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2.6 per cent of global gas untapped in Nigeria – NGA

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NIGERIA’S gas reserve accounts for over 2.6 per cent of the total 6832 trillion cubic feet of global gas holding.

President of Nigerian Gas Association (NGA), Dada Thomas, disclosed this yesterday at the association’s on-going 11th International Conference and Exhibition in Abuja.

Quoting the latest British Petroleum Statistical Review of World Energy Report published in June, Thomas stated that world gas reserves rose to 6832 trillion cubic feet at the end of 2017, with African and Nigerian share standing at 488 trillion cubic feet (38percent) and 184 trillion cubic (2.6 percent) respectively.

According to him, Africa produced only 7.8 trillion cubic feet or 6.1 percent of the 129 trillion cubic feet produced globally in 2017, out of which Nigeria raked 1.65 trillion cubic feet or 1.2 percent of global and 21 percent of African production, stressing that in total global consumption of 128 trillion cubic feet, Africa and Nigeria only used 5 trillion cubic feet (3.8 percent) and 0.55 trillion cubic feet (0.4percent) respectively.

Thomas also expressed worry over  this consumption trend which, he said, should be a source of concern for all since wealth is created not by the resources in pipeline but how effectively used are resources, adding that there is a direct correlation between power consumption and GDP.

He noted that with West African regional population estimated to rise to 410 million by 2050, up from its present 200 million, utilisation of gas to power national economy must be accelerated.

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