- DPR anticipates $500 million investments in the gas sector
- Investors have indicated interests in the domestic gas sector
The Department of Petroleum Resources (DPR) has announced the anticipated $500 million investment in the Nigerian gas-to-power sector. Investors have expressed interest in investing in the domestic gas sector. The Director, DPR Mr Sarki Auwalu, made this known while speaking to journalists in Lagos.
Auwalu presented the scorecard of the DPR following one year of operationalising the Nigerian Gas Transportation Network Code (NGTNC). He stated that the investments were an approval of the performance of the DPR. The NGTNC aims to deepen the development of the Nigerian domestic gas market across the value chain as well as support and sustain economic development in the country.
“We have improved investors’ confidence in the evolving domestic gas market. Confidence of investors across the domestic gas value chain has shown positive trends through specific requests for regulator’s support for gas supply to the tune of over 500mmscf/d and for investments of over $500 million,” Auwalu said.
Auwalu further stated that the DPR has, in the past year, upgraded gas transmission into an open-access regime, eliminating discriminatory access to transporters in the domestic gas market. He added that four shipper licences had been issued to operators in the gas-to-power sector to improve the power sector’s gas supply.