The Federal Government has increased its gas production target to 12 billion cubic feet per day (bcf/d) by 2030, up from the previous target of 10 bcf/d.
This was revealed by the Special Adviser to the President on Energy, represented by Lateef Biobaku, Team Lead, Gas, at Agbara, Ota industrial zone in Ogun State,
when Shell Nigeria Gas (SNG) engaged with over 100 gas off-takers.
A statement by SNG on Friday, said the Minister who used the opportunity to share the vision of the government for the oil and gas industry, saying, “Our vision is to unlock Nigeria’s energy potential, to help fuel economic growth, to drive industrialisation and help diversify our economy.
”The aim is to attract investments to help raise oil and gas production to 4 million barrels per day and 12 billion cubic feet of gas per day by 2030.”
Last year, Nigeria generated approximately N8.6 trillion from natural gas production.
Data from the NUPRC indicated that the country produced 2.5 trillion cubic feet of gas last year.
The NUPRC data indicated that the country produced 1.44TCF of associated gas.
Associated gas is a form of natural gas found with deposits of petroleum, either dissolved in the oil or as a free ‘gas cap’ above the oil in the reservoir.
Similarly, 1.06TCF of non-associated gas was produced in the period under review.
Non-associated natural gas is a type of natural gas that is produced in gas fields that do not contain crude oil.
However, out of the 2.5TCF of gas produced in 2024, 2.31TCF was utilised while 192.89 billion standard cubic feet of gas was flared.
