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NIGERIAN CRUDE OIL AND GAS.
Nigeria loses gas worth $ 32bn yearly
Nigeria loses about $ 32 bn worth of gas every year due mainly to gas
flare and lack of a master plan to harness the commodity, the offshore West
Africa Conference revealed at the end of its three-day conference in Abuja.
In a 13-point conclusion, participants noted that gas resource waste is
still an issue in Nigeria and that bringing the three planned Liquefied
Natural Gas plants on stream, on time and a strategic plan to gather gas and
stimulate domestic consumption will help to reduce the loss.
Participants noted that despite concerns over meeting future demands, West
Africa will continue to maintain a prominent role in world energy supply. It
remains relatively a "friendlier" region to major oil consuming nations,
they contended, but quickly added that stemming the tide of conflicts and
militancy will create a better environment to achieve set goals.
Participants pointed out however that oil sands, GTL, CBM etc. remain the
unconventional resources challenge in the sub-region.
