THE 1.2 billion cubic feet of gas flared daily could avail the nation about 7,000MW of efficient thermal power, over 1,400 agro processing facilities, 350 textile plants, 70 fertilizer plants with opportunity for creation of over one million jobs.

This is the assertion of the Group Managing Director, Oilserv Limited, Emeka Okwuosa, in a paper titled: “Natural Gas Development in Nigeria,

A Compelling Investment Frontier In A Turbulent Oil Market”, presented at the Petroleum Technology Association of Nigeria’s forum in Houston Texas, recently.

Besides, the OilServe Group, a consortium of Pan African Oil & Gas and Power companies that provide services across the Oil & Gas and Power sector value chains in the Sub-Saharan Africa region, has incorporated two new companies – FrazOil Limited and FrazPower Limited.

Okwuosa said that the national focus must shift to increasing domestic gas utilization if we are to see the progress desired for Nigeria.

He lamented the continuous importation of petroleum products, which he put at $20 billion yearly despite being a major crude oil producer.

Okwuosa emphasized the need for the country to create measures to discourage flaring; reduce emphasis on new Liquefied Natural Gas export capacities; expedite the remaining construction scope of gas infrastructure as laid out by the Nigerian Gas Master Plan (NGMP); and institutionalize NGMP.