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Africa’s gas reserves can unlock gold, diamond, other potentials – Baru

The Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has said the enormous natural gas reserves in Africa is capable of unlocking the huge natural resource potentials, such as gold, diamond, iron ore and steel in the continent, to enable a wide range of industrial clusters built around petrochemical, manufacturing, agro-business and fertilizer production.

Dr. Baru disclosed this while delivering the 36th Monthly Gas Lecture held at the Headquarters of the Gas Exporting Countries Forum (GECF) in Doha, Qatar, on Thursday.

A statement by the corporation’s spokesman, Ndu Ughamadu, said the NNPC GMD, who was represented at the occasion by its Chief Operating Officer, Gas & Power, Engr. Saidu Mohammed, spoke on the theme “Natural Gas: Catalyst for Africa’s Economic Development and Integration.”

The delegation also included Nigeria’s country representative to the GECF, Mr. Bala Wunti, amongst members.

Dr. Baru said Africa’s huge gas reserves currently stood at about 614 TCF, even as Nigeria had the continent’s largest reserves with 199TCF, Algeria (159TCF) and Mozambique (100TCF) occupying the second and third positions respectively.

According to Dr. Baru, GECF member-countries currently produced 93 percent of Africa’s natural gas, a significant assurance which highlighted the continent’s future in the natural gas landscape.

The GMD explained that the focus in gas development in Africa was to intensify efforts in in-continent conversion which would ensure value addition across the entire natural gas value chain, with a view to improving the continent’s economy.

He said in deliberately channelling natural gas development towards meeting up with domestic and export aspirations, Nigeria’s strategic plan had been hinged on three key areas.

“This focus will be on developing natural gas to meet Nigeria’s gas-to-power aspirations, gas-based industrialization and harnessing our gas for export credentials,” he said.

SOURCE: dailytrust