
By Moses Patience Chat
The International Gas Union (IGU) has told African countries that are blessed with the abundance of natural gas to exploit their local reserves in order to bridge energy gap and increase access to energy.
This was made known in IGU’s Global Voice of Gas Report for the month of March, 2023, where the Union further stated that African countries can generate huge profits and rewards from the exports of natural gas.
According to IGU, the the African continent has recently been affected by the inflammation of food and energy prices, and of other commodities in the entire supply chain.
The report further explained that the substantial gas reserves in Africa can not only support the continent, but the world at large with clean and reliable energy.
Commenting on Nigerian Liquefied Natural Gas (NLNG), the report said that Nigeria has exceptional potentials of generating and creating jobs, promoting industrialization, and expanding the country’s supply chain through the production of fertilizers and petrochemicals.
“Gas can also provide baseload electricity in countries with no alternatives, ultimately supporting the integration of renewable energy,” the report read in part..
“It can also provide households and industries with cleaner and more affordable energy and decarbonize the power mix in the short term by phasing out coal and diesel,” the report further read.
IGU however advised that, for Nigeria and Africa to get the benefits of gas, they must overcome the challenges of finance, lack of gas infrastructure and uncertainty in policy making.