800 Companies Jostle for Gas Flare Sites

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About 800 companies have expressed interest for management of 176 gas flare sites in the country.

This was revealed to newsmen in Abuja on Thursday by Minister of State for Petroleum Resources, Dr Ibe Kachikwu.

Kachikwu said that government in a frantic bid to stop gas flaring in the country by the year 2020, had received bids of 226 bidders that paid the stipulated fees out of the 800 companies that expressed interest in managing the sites.

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“Over 800 companies have expressed interest to manage about 176 gas flare sites and out of the total companies, about 226 have paid the stipulated fees and their bids had been received,” he said.

“Premised on the foregoing, the policy position of His Excellency, President Muhammad Buhari, is that gas flaring is totally unacceptable. adsbygoogle || []).push({});

“In this regard, the Federal Government of Nigeria, initiated a number of actions to reaffirm its commitment to ending the practice of gas flaring in our oil fields.

“Furthermore, in recognition that flared gas could be harnessed to stimulate economic growth, drive investments and provide jobs in oil producing communities and indeed for Nigerians through the utilisation of widely available innovative technologies.

“The Federal Executive Council in June 2016, approved the Nigerian Gas Flare Commercialisation Programme, NGFCP,” he said.

“We must stop gas flare and other hazards associated with gas flaring in Nigeria. We must also ensure that oil and gas production do not become harmful to our citizens,” he added.

“The policy objective is to move to market-led wholesale gas pricing without gas price regulation, except where there are natural monopolies,” Kachikwu noted.

The government was working hard, 10 years ahead of the United Nation’s UN deadline to stop gas flaring in the country by the year 2020.

(NAN)

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