₦airaland Forum

Young03:
Mtcheww...how much z 1litre of it sold

1 litre of GAS !!!!!! Haa

Na wa for U ooooo

Hmmm cool.
I hope it's gonna be used to develop the nation and not to increase the bank accounts of selfish, corrupt politicians.
I pray!

Wonder how many of you guys commenting or viewing this thread will be alive then

Na under Buhari admin una go knw dat 1; gais no wan loose deir wrk

I was told Nigerian government doesn't explore for gas and the reserve mentioned comes along side oil discovery. The nation could be very rich in gas without knowing it. Too many barbarians in that country.

I go don die by then, so this news no concern me

Young03:
Mtcheww...how much z 1litre of it sold

Oga is measured in kilo nt litre ok!

onyedikachukwue:
Oil and gas from ss/se. How many sugarcane and groundnut reserve do we have.

join body kachukwu..... How many oil and gas de southeast

iwaeda:
Nigeria’s gas reserve life index stands at 79 years as of January 1, 2015, according to the latest data from the Department of Petroleum resources.

Out of this figure, some volumes are said to stranded or not developed.

The country is also said to have 188 trillion cubic feet in gas reserves as of January 1 this year.

The Deputy Director, Gas Monitoring and Regulation, Department of Petroleum Resources, Mr. Antigha Ekaluo, disclosed this in a presentation at the 16th Annual General Meeting/Natural Gas Business Forum 2015 of the Nigerian Gas Association held in Lagos on Wednesday.

The presentation was entitled: ‘Harnessing and monetising the potential of stranded gas fields: A key enabler for economic and national growth’.

The reserve life index measures the length of time it will take to deplete a resource. The RLI is often used to measure how long a well or mine will last such as for oil, natural gas or minerals. Typically, the higher the RLI, the higher the quality of the asset.

For example, an oil well with a RLI of 15 years will be a more productive asset in the long term than an oil well with a RLI of five years, assuming the production levels are the same.

Ekaluo said Nigeria’s gas reserves endowment might be up to 600TCF, quoting the United States Geological Survey, adding that the country ranked seventh in the world and first in Africa in gas reserves base.

According to him, natural gas potential exists in inland basins like the Benue Trough, Borno and Anambra basins, but with the natural gas accumulation mainly concentrated in the Niger Delta Basin.

He said substantial discoveries had been made in the deep offshore area, stressing that all natural gas discoveries were incidental to exploration for crude oil.

The DPR official described stranded natural gas as that, which was available but not developed due to economic and physical constraints, adding that stranded gas could also be gas reserves in remote fields, which would be uneconomic for monetisation.

“They could also be associated gas reserves without gas gathering systems,” Ekaluo explained.

According to him, capital and operating expenditures are stifling the growth of gas infrastructure, as well as immature/sub-commercial domestic market, disincentive fiscal terms (high risk, low return) and absence of robust legislative and commercial framework for gas.

Nigeria, he noted, was endowed with abundant gas resources and the sector holds huge potential for unprecedented growth.

The existing legal and regulatory framework, written primarily for oil, does not provide robust technical and commercial framework for gas, he argued, adding, “There is, therefore, the need to pass the Petroleum Industry Bill into law, which will underpin the ongoing sector reforms.

“The gas sector policies will provide Nigeria with the opportunity to harness and get maximum value from its stranded gas resources, as effective gas sector development remained a catalyst for growth and will have a multiplier effect on the Nigerian economy.”

On the strategy for monetising stranded gas, the Council Chairman, Society of Petroleum Engineers, Nigeria, Mr. Emeka Ene, said there was the need for the country to identify and secure its closest markets, develop an integrated flare-out model, recognise that associated gas was not non-associated gas, determine the size the process based on average throughput, and modularise the solution.

For accelerated stranded gas monetisation, he called for the fast-tracking of captive power, adoption of gas-powered public transportation, Liquefied Petroleum Gas substitution programme, and the implementation of pipeline network code.

http://www.punchng.com/business/energy/nigerias-gas-reserves-to-last-79-years-dpr/

Bull shit!!! And a 12.5kg of Gas still goes for 3500 and not even affordable for d below average nigerians.

Can't this gas be sold at an economic price?

n no gas to power our plant in dis country. yeye

More reason why North and their slave friend will want one Nigeria for life. And another reason they keep kicking against PIB and national confab reports or any one that plan to restructure Nigeria nationally and farily. Nigeria a country of no peace for the wicked.

Akshow:
join body kachukwu..... How many oil and gas de southeast

abia,imo and anambra

I'm curious, how will the gas power stations that have been built run after the reserves run out?

while the utilization of gas for power seem like a welcome development, it is a finite product... (79 years is a very short time). Plus gas looks like it is going to be prone to price fluctuations that is the nature of its brother Oil.

I would prefer Nigeria follow in the footstep of Japan, Germany and just recently the US... we need to embrace Renewable Energy like Solar and Wind should be our top priority now. The potential for development at the community level is huge, this might just be the magic bullet to potentially dismantle the curse of unemployment. The beauty of this is that it gets cheaper with time and the initial investment is not really as high as what is required by oil and gas investments

Obama is now happy.

Obama's mission in Nigeria is completed.

onyedikachukwue:
Oil and gas from ss/se. How many sugarcane and groundnut reserve do we have.

My frnd shut up.. this your by force by fire attachment nor they tire una ?

The article said there re potential gas in Borno, Benue and Anambra.

Nigeria is BLESSEd

Even we the SSners that produces large quantity of gas and oil you hardly see us talk .

Abeg park well Jor.

Akshow:
join body kachukwu..... How many oil and gas de southeast

Abeg leave that clown. Feeling too important

onyedikachukwue:

abia,imo and anambra

How many % re the above state producing ? re they up to 10-15% of oil and gas produced in Nigeria

Y making it looks as if you re the major producer of oil and gas in Nigeria

What will our children embezzle on? Abeg it should not finish ooooo. My child must be minister of petroleum.

Young03:
Mtcheww...how much z 1litre of it sold

Bros, gas is not measured in litres but in mmscf

Or you mean 79 days

kingarizona1:
Oh Sh*t____ Another 79 years of corruption and money embezzlement in the oil sector!!!


Meanwhile Because of my position on this thread I missed my lectures this morning(forgive me) and I've now see that INTROVERT is Jambite___ Beware of 419 and our jobless daughter

na you sabi,lectures the,if it were a trend on cars now,you will claim ur BMW was crash on front page

onyedikachukwue:
abia,imo and anambra

You forgot abakaliki :O

Mk una dey dere dey ful una sef .
Biafra dey go finally nxt year mk I see were the gas go come from.
79 ko 79 ni.

Goodboiyy:
My frnd shut up.. this your by force by fire attachment nor they tire una ?

The article said there re potential gas in Borno, Benue and Anambra.

Nigeria is BLESSEd

Even we the SSners that produces large quantity of gas and oil you hardly see us talk .

Abeg park well Jor.

For ur info there is oil n gas in abundance in anambra,Imo,abia n ebonyi.enugu is the only state without oil deposits. the government just deliberately goes to the side of the south south to drill the oil .
When biafra goes we wud start our own exploration from our lands

Thank God,dat time I go don waka

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I try to tell Nigerians everyday, natural gas is an area that is waiting to be exploited. Cars can run on natural gas and cars in Benin Lagos are already running on natural gas, using natural gas gives your over 60 percent savings on fuel cost, meaning if u use 10,000 naira on petrol or diesel then u will only 4000 or less on using natural gas for your vehicles of the same mileage. Many companies now use natural gas to generate power boycotting Nepa completely even redeem camp that has 24 hours light use Natual gas turbines. I hope the government and individuals will wake up and exploit this great benefit, because one way that the price of petrol can be reduced is if there is an alternative fuel that is cheaper and the great news is we already have that, it's Natural gas in its compressed form also known as CNG.