About 95 per cent of Nigeria’s production is exported.
Nigeria currently produces 23 million tonnes of natural gas annually, Babs Omotowa, the Managing Director of the Nigerian Liquefied Natural Gas, NLNG, has said.
This is about seven per cent of global production of natural gas.
Mr. Omotowa said this at the 2013 Annual Olobiri Lecture Series and Energy Forum organised by the Society of Petroleum Engineers (SPE) in Lagos on Thursday.
He spoke on “The Emergence of the Unconventional Impact on Nigerian Petroleum Industry.”
He said that out of the 23 million tonnes, 63 per cent was being exported to Europe, while 32 per cent went to Asia.
“This is first time that the Nigerian government will provide none regulatory measures to encourage gas utilisation.
“This has created the enabling environment for Nigeria investors to partner with the International Oil Companies (IOCs).
“As at today, NLNG is producing seven per cent of global Liquefied Natural Gas,’’ he said.
Mr. Omotowa said that NLNG was contributing four per cent of the GDP.
He said that the company had also supplied about 150,000 metric tonnes of cooking gas into the domestic market.
He said that this represented about 65 per cent of cooking gas in the Nigerian market.
According to him, the export of LNG has accounted for over $60 billion (more than N9 trillion) revenue in 13 years.