FMPR, DPR launch gas network code at NIPS 2020
As the 3rd edition of the Nigeria International Petroleum Summit, NIPS, begins in Abuja on Monday, February 10, the Federal Ministry of Petroleum Resources, FMPR, in conjunction with the Department of Petroleum Resources, DPR, are set to formally launch the National Gas Transportation Network Code.
DPR’s Head of Public Affairs, Mr. Paul Osu, in a statement, said President Buhari and the Minister of State for Petroleum Resources, Chief Timipre Sylva, were passionate about the network code as it is a major policy to unlock the potentials of gas as a resource and revenue earner for Nigeria.
Olu said the network code was critical to government’s objective in firming up the country’s domestic gas obligation as well as promoting export.
He added that the network code, which will ensure that the wrong quality gas does not go into the pipeline in addition to guaranteeing gas pipeline integrity, open access to pipeline and common understanding on metering.
“The review of the Network Code licensing framework and development of all its ancillary agreements have been firmed. The code will also provide a uniform platform in terms of guidelines for agreements between buyers and sellers which will ensure transparency and eliminate existing bottlenecks,” DPR said.
In its latest report, the DPR said Nigeria’s natural gas reserves has been on the increase from 2013 and is projected to continue to grow at a conservative rate of about 1.0 per cent.
“The reserves volume of the operated deep-water acreages in Nigeria is about 21% of the country’s total reserves of liquid hydrocarbons (7.746 BillionBbls/37.002BillionBbls). Yet the acreages accounted for about 36.08% of the Nation’s total production in 2018,” it said.
Meanwhile, as it is the tradition with the Nigeria International Petroleum Summit, NIPS, top African Energy Ministers will storm the International Conference Centre, Abuja from February 9th – 12th, 2020 for the third edition of the summit.
Organizers describe the theme of the event, “Widening the integration circle: technology, knowledge, sustainability, partnership,” as apt considering the presence of the African Ministers at the summit.
Some of the African Energy Ministers who have confirmed their attendance include H.E. Noel Mboumba, Minister of Oil, Gas and Hydrocarbons, Gabon; H.E. Foumakoye Gado, Minister of Petroleum, Republic of Niger; Mike Sangster, H.E. Mustapha Sanalla, Libya Minister of Petroleum and Chairman of NOC and H.E. Jean-Marc Thystere, Minister of Hydrocarbon, Republic of Congo.
“It has been our tradition from inception. We gather the best brains and key policy makers from across the continent to chart the way forward and posit strategies for the management of Africa’s huge hydrocarbon resources,” Managing Director of Brevity Anderson, the event producer, Mr. James Shindi, said.
Also expected at the summit are H.E Mohammad Sanusi Barkindo, Secretary-General, Organization of Petroleum Exporting Countries, OPEC; H.E Mahaman Laouan Gaya, Secretary-General, African Petroleum Producers' Organisation, APPO; H.E Dr. Sun Xiansheng, Secretary-General, International Energy Forum, IEF, amongst other reputable international stakeholders.
Similarly, the summit is expected put the Governors of oil bearing states in Nigeria on the spot during the Governors Forum segment to match the opportunities as oil bearing state and interrogate their various roadmaps on what should be and where they are headed to.
A statement by the Nigeria National Petroleum Corporation, NNPC, said one of the session, which will be chaired by the Executive Governor of Ekiti State, Kayode Fayemi, will probe the challenges facing the oil bearing states, the host communities and the oil firms operating the areas as the states seek to adopt the best possible policies to provide economic growth, stable operating environments, and social benefits for their citizens.