Abuja – Vice-President, Yemi Osinbajo, has urged African countries to commit to the United Nations Agreement on Zero Routing Gas Flaring.
Speaking in Abuja at the sixth African Petroleum Congress and Exhibition, he said ending gas flaring was an imperative for African oil producers considering the amount of waste involved.
He called on African countries to take advantage of the gas-to-power potentials.
“It is high time to take a much further stand on gas flaring, both from environmental and a waste-of-needed-resources perspectives,” Osinbajo, who represented President Muhammadu Buhari.
The Vice President explained the incremental use of gas in Africa’s energy mix had become an imperative.
“If Africa must meet her future energy needs, the issue of the development of a robust gas infrastructure must be jointly addressed,” said Osinbajo.
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He said of the over 150 billion cubic metres of associated gas flared annually in the world, Africa flares an estimated 40 billion cubic metres.
Half of it is flared by Nigeria.
Nigeria has the seventh largest deposit of gas in the world with reserves estimated at over 185 trillion cubic feet.
Nigeria intends to sign the United Nations Agreement on Zero Routing Gas Flaring by 203.
Meanwhile, in his welcome remarks, Minister of State for Petroleum Resources, and President of African Petroleum Producers Association , Ibe Kachikwu, stated the African Petroleum Congress and Exhibition was timely, coming at a critical period when the industry was experiencing price volatility.
“The situation is of global concern threatening oil and gas investments, but also creating opportunities for new energy sources,” Ibechukwu said.
- CAJ News