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Nigeria approves new gas policy
President Umaru Musa Yar'Adua took a major step forward in addressing
the nation's energy and power supply problems by approving a new
National Gas Pricing Policy and Regulations.
The policy/regulation is aimed at ensuring short and long term gas
availability, at affordable prices, for all domestic consumption and for
sectors that have significant multiplier effects on the national
economy. According to a statement by the Special Adviser to the
President on Communications, Mr Olusegun Adeniyi, the two new policy
documents approved by Yar'Adua are also expected to boost the pace of
industrial development in the country by ensuring competitive gas prices
for all gas consuming sectors of the economy.
Under the new pricing policy, Nigeria's gas will be supplied at the
lowest commercially sustainable prices to the strategic domestic sector
which provides electricity for residential and light commercial users.
"The new policy for the country's Strategic Industrial Sector,
comprising industries that require gas as their main feedstock, such as
fertilizer and methanol producers, is expected to make such industries
as competitive as their counterparts in other low-cost gas producing
countries. The new gas policy further stipulates that all operators in
the country's oil industry must realign their gas development portfolios
in order to ensure that gas resources which are rich in natural gas
liquids NGLs), including condensate and LPGs, are directed to strategic
domestic sectors.”
"The policy objective is to ensure that all NGL-rich gas in Nigeria is
preferentially deployed for domestic use rather than for export. Under
the new policy regime, all oil and gas developers in the country are
expected to allocate a specified amount of gas from their reserves and
annual production to the domestic market", he said.
The statement added that the amount of gas to be reserved for domestic
consumption will be periodically determined by the Minister of State
(Gas) in the Federal Ministry of Energy.
"A Department of Gas is to be established in the Federal Ministry of
Energy to oversee the implementation of the new gas policy and
regulations", he said.
Meanwhile, the President has said Nigeria was watching the situation in
Chad Republic, with a view to getting the two sides to the negotiating
table. The President was speaking to the Burkinabe Minister of
Agriculture, Water Resources and Fisheries, Mr Salif Diallo, who brought
a special message from President Blaise Campaore to the State House.
"We are watching the situation in Chad, including the efforts of Libya
as mandated by the African Union, and will soon bring the government and
the rebels to the negotiating table", he assured. Responding to a
request for the supply of petroleum products from Nigeria, President
Yar'Adua assured the Burkinabe minister that Nigeria would assist
appropriately.
Earlier, Mr Diallo had called on Nigeria to continue her leadership role
in the West African sub-region by intervening for a return of peace to
Chad.
Also, President Yar'Adua received a special message from President
Abdoulaye Wade of Senegal. It was delivered by Maitre Souleymane Ndene
Ndiaye, Special Envoy of the Senegalese President.
