Nigeria’s development potential lies in gas, NLNG insists.
The Nigeria Liquefied Natural Gas (NLNG) Limited yesterday said natural gas, which should be harnessed now and not in future, remains crucial to Nigeria’s development, given changing global energy mix.
It said with rapid population growth, the world would need more energy to support global development and growth, adding that the country and the world needed the same zeal and urgency now to tap gas resources rather defer it to the future.
According to the gas company, the world now only wants cleaner energy to help counter the effects of climate change, rising global temperature with carbon limit and assurance of a cleaner environment for the next generation.
Managing Director and Chief Executive Officer of NLNG, Tony Attah, stated this in Lagos at the 15th annual science and literature prize awards.
He explained that the world was changing faster than we could imagine with massive disruptions going on, quantum leaps in technological advancement and changing energy mix exacerbated by the energy transitions.
“The Energy Information Administration (EIA) report forecasts that world population will grow from seven billion to nine billion people in about 20 years by 2040.
“Just imagine adding one China and one India to the world or adding about 10 more Nigeria to the world. Two billion is a lot of people indeed,” he said.
He stated that current trend necessitated why NLNG believed it was time for gas because, according to him, gas is cleaner, gas available in abundance and is much cheaper than other energy sources.
“More importantly Nigeria is blessed with so much gas that the country is now known as a gas province with little oil. Today we have over 190 trillion cubic feet (TCF) of proven gas reserves with scope for an additional 600TCF, which should propel us from the extant no10 in the world to the fourth position once proven,” he added.
According to Attah, gas could drive development as a catalyst through power generation, industrialization, manufacturing, and agriculture.
“The hope of Nigeria’s development among the comity of nations lies underground in the abundance of gas reserves we have and also through innovations in renewables.
“Gas will boost industrialization of our pharmaceuticals, petrochemicals, agro-based businesses through fertilizer and even Liquefied Petroleum Gas (LPG) for domestic use in homes, among others,” he said.