Nigeria losses over $1b (N157bn) to gas flaring every year. The Group Executive, Gas and Power, NNPC said this while speaking on the theme, Gas Flare Out: Challenges and the Way Forward. He said that only 12 per cent of the country’s Liquefied Natural Gas was consumed for power and industrial uses. To improve gas production and utilization, he said the problem will be tackled in five ways which include: robust infrastructure delivery, gas supply growth, elimination of wasteful flares, viable commercial frame work and focused kick-off of gas industrialization.
He said in 2012, NNPC would reinforce the eastern network and commence the opening of the northern axis. On gas flare reduction, he said this can be achieved by ensuring that all new developments have gas utilization schemes, introducing regulation to force supply growth and penalizing flares.