The Nigerian government has this week approved the National Gas Policy, which would be reviewed and updated periodically to ensure it is consistent with government policy objectives at all times.
[quote]Vanguard reported that the director of press at the ministry of petroleum resources, Idang Alibi, said the policy document builds on the policy goals of the federal government for the gas sector as presented in the 7 Big Wins initiative developed by the ministry and the national economic recovery and growth plan, ERGP, 2017-2020.
National Gas Policy
Explaining the contents of the policy, Alibi said it articulates the vision of the government, set goals, strategies and an implementation plan for the introduction of an appropriate institutional, legal, regulatory and commercial framework for the gas sector. Read more…
He added that the regulation is intended to remove the barriers affecting investment and development of the sector.
Alibi said: “The gas policy intends to move Nigeria from an oil-based to an oil and gas-based industrial economy, which will be driven by the core principles as shown below: Separate the respective roles and responsibilities of government and the private sector; establish a single independent petroleum regulatory authority.
“Implement full legal separation of the upstream from the midstream; implement full legal separation of gas infrastructure ownership and operations from gas trading; realise more of the LNG international downstream value; pursue a project-based, rather than a centrally-planned domestic gas development approach.”
Contents of the policy
Other contents of the policy, Alibi said, includes: “Make a strong maintenance and safety culture a priority; Implement international best practice for environmental protection; Establish strong linkages with electric power, agriculture, transport and industrial sector; Establish payment discipline throughout the energy chain.
“Honour stability of contract terms; Ensure security of assets and ensure compliance with the Nigerian Content Act.”
He also mentioned that the policy covers governance (Legislation and Regulation); industry structure; development of gas resources; infrastructure; building gas markets and developing national human resources.
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