Abuja - The NNPC has said that about 80 per cent of the gas produced in the country is channeled towards power generation.
A statement issued by Mr Fidel Pepple, issued by the acting Group General Manager, Public Affairs Division, on Sunday in Abuja, quoted Mr Andrew Yakubu, the NNPC Group Managing Director, as saying this at the 42nd Annual General Meeting of the Nigerian Society of Chemical Engineers.
Yakubu was quoted in the statement as saying that one of the key priorities of his management was to ensure that between 70 per cent to 80 per cent of gas produced in the country wwas channelled to power generation in order to stabilise electricity supply.
``One of the strategic focus we had when we came on board was to ensure that gas availability to power was met and I am glad to tell you that as at today, we are in surplus of gas availability to power, in line with the Federal Government’s power initiative,” he said.
He said that the NNPC was committed to consolidating on the gas-to-power project so as to boost economic activities in the country.
He said that the gas aggregator company and the other key commercial initiatives had gone a long way in stimulating investment in the oil and gas sector of the economy.
The NNPC boss also said that the corporation was taking steps to grow the nation’s crude oil reserves to 40 billion barrels and daily crude oil production to four million barrels per day by 2020.
This is to ensure that a solid platform was laid for the rapid economic growth and development of the country.
On gas flaring, he said that a lot of investments had been made, reducing gas flaring to about 15 per cent.
He added that export initiatives on gas had been stepped up and that plans were under way to achieve zero flare in the country.