Nigeria is struggling to generate commitment from prospective investors able to monetise gas resources currently wasted at 180 gas flaring sites across the nation where some 800 million cubic feet of associated gas goes up in smoke every day, according to officials.
The Nigerian Gas Flare Commercialisation Programme had hoped to attract submissions by 28 February from suitors aiming to acquire a prescribed statement of qualification, but it is understood that very few have responded in time.
The NGFCP has extended its deadline for initial submissions to 15 March, hoping that industry may be adequately reassured of policy continuity by President Muhammadu Buhari’s second-term victory in last month’s polls.
Source: Upstream