Gas cylinder

The Federal Government, yesterday, admitted that Nigeria was ill-prepared to take advantage of the significant increase in the demand for natural gas by European countries following the outbreak of the Russian-Ukrainian war last year. Following the outbreak of the war and imposition of sanctions, Russia cut gas supply to European countries leading to a huge energy crisis and increased demand for alternative sources of gas. With over 200 trillion cubic feet of natural gas reserve and regarded as one of the leading gas resource countries in the world, Nigeria failed to reap from the huge rise in demand due to poor investments and lack of foresight. Speaking at the third Biennial International Conference on Hydrocarbon Science & Technology, ICHST 2003, organised by the Petroleum Training Institute, PTI, in Abuja, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo observed that Nigeria’s vast natural gas reserves remain largely under tapped for export and domestic markets. The conference has as theme: The future of the oil and gas industry: Opportunities, challenges and development. Mr. Ekpo said that the country needs to do more to improve investment that would lead to increased gas production that would guarantee sustainable energy supply to its people.
Vanguard