Abuja: Nigeria’s gas demand is projected to reach about 15 billion standard cubic feet (bscf) per day by 2030, according to the Decade of Gas Initiative. The Coordinating Director of the initiative, Mr. Ed Ubong, shared this forecast during a strategic panel session at the ongoing Nigeria Oil and Gas (NOG) Energy Week in Abuja.
According to News Agency of Nigeria, Ubong highlighted during the session on ‘Maximising Gas Export Potential – Regional Integration for Meeting Global Demand’ that the increase in demand will be driven by growing domestic consumption and expanding export opportunities. He noted a rebound in Nigeria’s gas exports to a five-year high, while domestic supply has surpassed two bscf per day.
Ubong emphasized that Nigeria’s proven gas reserves have increased to approximately 215 trillion cubic feet (tcf), with daily production nearing 7.87 bscf and a continued decline in gas flaring. He stated that these developments align with the Federal Government’s production target for 2030.
He further mentioned ongoing infrastructure projects like the completed OB3 gas pipeline crossing, compressor stations, the Ajaokuta-Kaduna-Kano (AKK) pipeline, and the African Atlantic Gas Pipeline that will bolster gas transmission, enhance regional integration, and open new markets.
Ubong explained that more than 20 gas projects are anticipated to contribute about 4.6 bscf per day to current production levels, enabling Nigeria to meet its 12 bscf daily production target. Achieving this target will require a pricing framework that promotes investment, ensures consumer affordability, and maintains export competitiveness.
Additionally, Ubong disclosed that the federal government plans to distribute five million Liquefied Petroleum Gas (LPG) cylinders to rural women by 2030 as part of efforts to promote clean cooking adoption.