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Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta - Politics - Nairaland

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Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by OrientDailyNews: 1:11pm On Feb 28, 2019
...as FG targets $3.5bn investments, annual GDP impact of N$1bn

By Chibisi Ohakah     

Federal Ministry of Petroleum Resources has confirmed that over 700 firms have registered on the Nigerian Gas Flare Commercialization Programme [NGFCP] portal to jostle for about 178 gas flare sites located in the Niger Delta region. This followed the call for interested bidders to bid for gas flare sites by the ministry.

The ministry also assured that the program would attract over $3.5 billion worth of investments to Nigeria to achieve the gas flare commercialisation targets by 2020, and a potential annual revenue and Gross Domestic Product (GDP) impact of around $1billion.

Two years ago, the Federal Government announced the commencement of the verification of gas flare sites across the country, and had discovered that there were at least 178 sites where gas was flared by various oil companies as opposed to 140 sites listed in the past.

The ministry said it has therefore designed the NGFCP as an important climate change action plan for Nigeria.

It said that the site is the first market-driven programme undertaken on this scale globally, which means bidders will have the flexibility of choosing which flare sites to bid for, the gas price, and the end market or gas product, as well as the technology to be used

The programme manager, Nigerian Gas Flare Commercialization Programme in the federal ministry of petroleum resources, Mr. Justice Derefaka, said the verification exercise was conducted in conjunction with the World Bank, United States Agency for International Development and the Canadian government.

He explained that the essence of embarking on the verification exercise was to address issues of bankability and the need to attract investors and financiers to the gas flare commercialisation initiative.

According to him, the overall idea is to ensure that the country has a credible, measurable, attainable data that would be bankable, so that it would be an investment-grade data for investors and lenders to put their money. Derefaka informed that the worth of about 22 million tonnes of Carbon IV Oxide flared by oil companies in Nigeria, was $500 million (N153 billion).

The gas could be put to good use and potentially displace other fuels like coal and diesel that generate higher emissions per energy unit, he said.

“For the 22 million tonnes CO2 we emit, we lose approximately $500m emission credit value. If harnessed, we could power two to three LNG trains and if used for power, we could generate about 3,000MW of electricity,” the NGFCP chief said.


https://orientenergyreview.com/oil-and-gas/firms-jostle-gas-flare-sites/


1 Like

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by inderhappy(f): 1:43pm On Feb 28, 2019
First comment for the very first time.... Hmmm it is well with ogoni land
Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by emajoe: 1:43pm On Feb 28, 2019
Gas Business.

1 Like

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Herrymax(m): 1:44pm On Feb 28, 2019
Pls, i need a menial job, just anything to keep me busy, tired of staying around at home, Any available job in Ogun or lagos area
08149833680 whatsapp/call. Thanks.
Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by celestialAgent(m): 1:44pm On Feb 28, 2019
celestialAgent:
F
First thing first, who did you vote for?

1 Like

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by olaolulazio(m): 1:45pm On Feb 28, 2019
Okay
Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by NtoAkwaIbom(m): 1:45pm On Feb 28, 2019
Next level things

2 Likes

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Fesomu(m): 1:45pm On Feb 28, 2019
Na wetin Atiku wan sell be this. Bastard

12 Likes 1 Share

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by emmabest2000(m): 1:46pm On Feb 28, 2019
APC and initial garagara huuuuuu

4 Likes 2 Shares

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by ofemigeorge(m): 1:46pm On Feb 28, 2019
grin
Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Nobody: 1:47pm On Feb 28, 2019
Check as those northerners who are mere sycophants will get the contracts.

4 Likes

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by chinavs9ja(m): 1:48pm On Feb 28, 2019
Okay

Get your website and blog @ cheaper price...check my signature
Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by slawomir: 1:48pm On Feb 28, 2019
Okay
Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Shenky(m): 1:49pm On Feb 28, 2019
Fesomu:
Na wetin Atiku wan sell be this. Bastard

3 Likes

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by deepwater(f): 1:50pm On Feb 28, 2019
madness...

If u have ever flown into rivers state from 7pm down, you would see the real impact of gas flaring in the Niger Delta region.
The whole place looks like a candle procession -- all na gas flaring angry

3 Likes

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Shenky(m): 1:51pm On Feb 28, 2019
Fesomu:
Na wetin Atiku wan sell be this. Bastard
No be small tin o grin

1 Like

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by megamank(m): 1:51pm On Feb 28, 2019
No wonder atiku was so serious about selling this place... Annual income of 1billion dollars... Atiku wanted to corner this one but God Nor gree

5 Likes 1 Share

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by heywhy4u(m): 1:51pm On Feb 28, 2019
Ok we don hear
Order for your DRY PLANTAIN (Plantain flakes)
0803295507

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by TeamSimple(m): 1:51pm On Feb 28, 2019
emmabest2000:
APC and initial garagara huuuuuu
Let them do the gragra so far it positive . For how long are you guys going to be on the hating side

5 Likes

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Sustained718(m): 1:55pm On Feb 28, 2019

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by dahmie2013: 1:56pm On Feb 28, 2019
This is good, it will reduce the gas wastage & perhaps reduce the cost of filling our gas cylinders.

1 Like

Re: Over 700 Firms Jostle For 178 Gas Flare Sites In Niger Delta by Nobody: 1:57pm On Feb 28, 2019
No to gas flaring.

If apc can do the do the way they talk naija for better

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