Major Updates in the Nigerian Gas Industry as of Monday, November 25, 2024

[toluwalopesong]

Major Updates in the Nigerian Gas Industry as of Monday, November 25, 2024

• Nigeria's CNG Adoption Requires Policy, Investment Boost: Experts emphasize that Nigeria's transition to Compressed Natural Gas (CNG) necessitates robust policy frameworks and substantial investments to overcome infrastructural challenges and promote widespread adoption.
• Shell Reaffirms Commitment to Nigeria's Energy Security: Shell Nigeria has reiterated its dedication to enhancing the nation's energy security by investing in gas infrastructure projects aimed at boosting domestic supply and supporting economic growth.
• Cooking Gas Prices Surge Despite Export Ban: Despite the government's ban on LPG exports, domestic cooking gas prices have escalated, attributed to supply chain inefficiencies and rising operational costs within the local market.
• Cross River State Plans 120MW Power Generation: The Cross River State government has unveiled plans to generate 120 megawatts of power through gas-fired plants, aiming to improve electricity supply and stimulate industrial development in the region.
• NNPC's Utapate Crude Grade Enters Global Market: The Nigerian National Petroleum Corporation (NNPC) has announced the introduction of the Utapate crude grade to the international oil market, expected to enhance Nigeria's export portfolio and revenue streams.
• Cooking Gas Prices Escalate, Affecting Nigerian Households: Recent reports indicate a significant rise in the cost of refilling 12.5kg and 5kg cooking gas cylinders, with certain states experiencing higher price hikes, impacting household energy affordability.
• CNG Experts Highlight Benefits and Challenges: Industry specialists have outlined the advantages of adopting Compressed Natural Gas (CNG) as a cleaner and more economical fuel alternative, while also addressing the hurdles such as infrastructure deficits and public awareness.
• NNPC to Deploy Secure Oil Pipelines Nationwide: The Nigerian National Petroleum Corporation (NNPC) has announced plans to implement low-security-risk, high-integrity oil pipelines across the country to combat oil theft and ensure efficient resource distribution.
• 65% of Nigerian Households Rely on Traditional Cooking Methods: The National Bureau of Statistics reports that a majority of Nigerian households continue to depend on traditional cooking methods, underscoring the need for accessible and affordable clean energy solutions.
• Lagos-Based Car Dealer Questions Nigeria's Readiness for CNG Vehicles: A Lagos-based automobile dealer has expressed skepticism regarding Nigeria's preparedness for a widespread shift to CNG-powered vehicles, citing infrastructural and economic constraints as significant barriers.

Stay tuned for more updates!