The Department of Petroleum Resources has noted that investors have proposed to spend over $500m in building gas pipelines and other facilities in Nigeria following the implementation of the Nigerian Gas Transportation Network Code that was launched last year.
The Director and Chief Executive Officer of the DPR, Sarki Auwalu, who disclosed this said to grow the economy of the country with the Nigerian Gas Master Plan, there is a need to stimulate the multiplier effects of gas in the domestic market.
He added that through the implementation of the network code, the DPR was able to improve the much-needed market alignment between critical demand points for gas and available supply opportunities.
Auwalu said, “To grow the Nigerian economy with the Nigerian Gas Master Plan, there is a need to stimulate the multiplier effects of gas in the domestic market.”
He said the agency had so far issued 12 shipper (off-taker) licences, with three licences under processing; one transporter licence; and three agent licences.
According to him, the NGTNC ensures non-discriminatory access to the pipeline system, and guarantees secure, available, reliable and safe gas transmission system.
He said the network code had improved investors’ confidence in the evolving domestic gas market.