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FG says no going back in converting flared gas to economic advantage

Federal Government has ‎again assured on its promise of harvesting flared Gas for the economic advantage stating, while expressing concerns that Gas flaring in Nigeria is a huge waste of precious resources.
Justice Derefaka,the Programme Manager of the Nigerian Gas Fare Commercialisation Programme(NGFCP), office of the Minister‎ of Petroleum Resources revealed that gas flaring remains a waste of precious natural resource that could drive the economy if well harnessed.
In his lead presentation obtained by BusinessDay at the 3rd Lawyers in Oil and gas conference,titled:’The Impact of government’s Regulatory Policy and the Road to Sustainable Economic Growth the Lens of the NGFCP,he confirmed in the presentation stating thast,”Gas flaring is a tremendous waste that the federal government is not willing to tolerate,especially for a climate change perspective.
The Programme Officer specifically stated that,”Gas flaring account for two per cent of all Green House Gases(GHG) emissions which are responsible for several ill-health and environmental challenges”.
Giving further insight into the analogy of the conference theme:’Nigeria Oil and Gas Regulations- a reflection of the Economy’ the programme officer posited that,”In a World where we are under the surging pressure of climate change,we cannot ger rid of a precious natural resources and waste it without recourse to turning it around for the growth of the economy.
The programme officer argued further that contrary to failed speculations that flared Gas is an important part of the global energy transition,the closest ally to renewable. 
‎The UN ,it would be noted has described has described energy as central to nearly evey major challenge and opportunity the world faces today.Be it for jobs,security,climate change,food production or increasing incomes,access for energy is all essential.
With concerns of lack of access to power by about 100 millions who are note connected to the nation grid,the programme officer argued that ‎time has come for Nigeria to commercialise gas flaring as a way of lifting manay out of poverty and economic growth.
“More than 16 000 flared sites are in 90 countries globally with many of them in Nigeria.
BusinessDay reports that Nigeria’s deputy Minister of Petroleum resources has taken a step further to state federal government’s position that companies flaring gas may not have their operating licece renewed by 2020,since there are huge economic opportunities for energy conversion,as well as notable companies bidding for flared sites for commercial purposes.



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