Nigeria has lost N72.41bn through gas flaring by oil and gas firms in the first three months of 2017, according to the Nigerian National Petroleum Corporation (NNPC).
The NNPC noted that the companies had flared 85.81 billion standard cubic feet of natural gas during that period.
“Out of the 254.68 billion scf of gas supplied in March 2018, a total of 152.60 billion scf of gas was commercialised, comprising 40.52 billion scf and 112.08 billion scf for the domestic and export market, respectively,” the NNPC said.
“This implies that 59.92 per cent of the average daily gas produced was commercialised while the balance of 40.08 per cent was re-injected, used as upstream fuel gas or flared. Gas flare rate was 10.55 per cent in March 2018.”
It added that “Out of the 1.307 billion scfd of gas supplied to the domestic market in March 2018, about 854.40 million scfd of gas, representing 65.37 per cent was supplied to gas-fired power plants while the balance of 452.69 million scfd or 34.63 per cent was supplied to other industries.
“About 3.236.82 billion scfd or 89.52 per cent of the export gas was sent to Nigerian LNG Limited in March.”