Nigeria’s gas reserve has hit 200.79 trillion standard cubic feet (scf), one year ahead of its planned target, a source close to the Ministry of Petroleum Resources has revealed.
The Federal Government had planned to achieve this level by 2020, said the source, who did not want to be identified.
This is about five trillion cubic feet higher than what was obtained in 2018.
Nigeria’s reserve has for many years has been hovering around 186trn SCF, with most of it coming from associated gas.
The source attributed the increase to recent encouragement and policy directives rolled out by the government, which are aimed increasing the nation’s gas reserve for the purpose of boosting her economy.
Nigeria currently produces 8 billion SCF of gas domestically with 3.5billion of this going for LNG and 1.5billion for domestic market