Nigeria Takes Steps to Monetise Gas: Press
Nigeria has introduced new regulations for gas transportation, aimed at expanding the fuel’s use and incentivising private investment in pipelines, petroleum minister Timipre Sylva said at an industry summit in Abuja on February 10, according to Reuters.
Sylva in December described 2020 as Nigeria’s “year of gas”, saying that the priority would be to monetise gas that is currently flared because of a lack of transport infrastructure.
The regulations are expected to lead to greater connectivity within Nigeria’s gas network, and will enforce third-party access to pipelines, the minister said. They will “drive gas commercialisation” and apply to all contracts between pipeline operators and users, he said.
The objective is to establish “open and competitive access to Nigeria’s gas infrastructure,” according to Sylva, who said that existing agreements with pipeline operators must adapt to the new framework within six months.