Nigeria’s gas reserves now 210.54trn cubic feet – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that the national gas reserves have increased to 210.54 trillion cubic feet (TCF) from the 208.83 TCF in 2023. Speaking at the 3rd Gas Investment Forum held in Lagos, the Commission Chief Executive (CCE), Engr. Gbenga Komolafe, also disclosed that gas production rose from 6.91 BSCF/D […]
NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has stated that the national gas reserves have increased to 210.54 trillion cubic feet (TCF) from the 208.83 TCF in 2023.
Speaking at the 3rd Gas Investment Forum held in Lagos, the Commission Chief Executive (CCE), Engr. Gbenga Komolafe, also disclosed that gas production rose from 6.91 BSCF/D to 7.61 BSCF/D, reflecting steady growth across the value chain.
He stated that the domestic market currently accounts for about 28 percent of total gas utilisation, while exports via LNG and WAGP take up 35 percent, and field use including gas lift and reinjection represents 29 percent.
Komolafe who was represented by the Executive Commissioner, Development and Production of NUPRC, Engr. Enorense Amadasu, said policy reforms and regulatory milestones, have shaped Nigeria’s gas development journey, including the Associated Gas Re-injection Act (1979), National Gas Policy (2008), Flare Gas (Prevention of Waste and Pollution) Regulations (2018), Decade of Gas Initiative, and the landmark Petroleum Industry Act (PIA) 2021.
In a statement by the commission’s Head, Media and Strategic Communication, Eniola Akinkuotu, he added that the unveiling of a bold regulatory roadmap at the commission is aimed at unlocking over 55 trillion cubic feet of uncommitted gas reserves and attracting billions of dollars in new investments into the country’s gas value chain.
He also said since the enactment of the PIA, it has approved over 25 Non-Associated Gas (NAG) Field Development Plans, unlocking nearly 9,790 BSCF of reserves, 3.54 BSCF/D of gas, and attracting over $4.9 billion dollars in CAPEX investments.
“Nigeria’s proven gas reserves currently stand at 210.54 trillion cubic feet (TCF) comprising 109.51 TCF of Non-Associated Gas (NAG) and 101.03 TCF of Associated Gas (AG). Of this, about 55 TCF representing 26 percent of total gas reserves remains uncommitted to existing or planned monetisation projects, signalling a massive investment opportunity for both domestic and international investors.”
He noted that with an annual average daily gas production of 6.99 billion standard cubic feet (BSCF/D) in 2024, Nigeria’s Reserves Replacement Ratio (RRR) stands at 1.56, while the Reserves Life Index (RLI) is about 92.7 years an indication of long-term sustainability for investors in the country’s gas sector.
“Recent instruments such as the Domestic Gas Delivery Obligation Regulations (2022), the Gas Flaring, Venting and Methane Emissions Regulations (2023), and the Oil and Gas Companies (Tax Incentives) Order (2024) further consolidate the Commission’s pro-investment posture.”
“Since the enactment of the PIA, the Commission has approved over 25 Non-Associated Gas (NAG) Field Development Plans, unlocking nearly 9,790 BSCF of reserves, 3.54 BSCF/D of gas, and attracting over 4.9 billion dollars in CAPEX investments.”
He further disclosed that the Commission is actively facilitating regulatory approvals and negotiations for upstream gas supply to major projects such as NLNG Train 7, the Ajaokuta–Kaduna–Kano (AKK) Pipeline, and the Brass Fertilizer and Petrochemical Project.