Africa’s huge gas reserves currently stood at about 614 trillion cubic feet, even as Nigeria had the continent’s largest reserves with 199 trillion cubic feet , Algeria (159 trillion cubic feet) and Mozambique (100 trillion cubic feet) occupying the second and third positions respectively, the Group Managing Director of the Nigerian National Petroleum Corporation, Dr.Maikanti Baru has said.
Dr. Baru, who disclosed this while delivering the 36th Monthly Gas Lecture held at the Headquarters of the Gas Exporting Countries Forum (GECF) in Doha, Qatar, on yesterday,said GECF member-countries currently produced 93% of Africa’s natural gas, a significant assurance which highlighted the continent’s future in the natural gas landscape.
He said that the enormous natural gas reserves in Africa is capable of unlocking the huge natural resource potentials, such as gold, diamond, iron ore and steel in the continent, to enable a wide range of industrial clusters built around petrochemical, manufacturing, agro-business and fertilizer production.
He explained that the focus in gas development in Africa was to intensify efforts in in-continent conversion which would ensure value addition across the entire natural gas value chain, with a view to improving the continent’s economy.
He added that in deliberately channeling natural gas development towards meeting up with domestic and export aspirations, Nigeria’s strategic plan had been hinged on three key areas.
“This focus will be on developing natural gas to meet Nigeria’s gas-to-power aspirations, gas-based industrialisation and harnessing our gas for export credentials.