Nigeria’s natural gas production rises to 47bscm in 5 years

Statistics from the Organization of the Petroleum Exporting Countries, OPEC, have shown that Nigeria grew its natural gas production to 47 billion standard cubic meters, bscm, from 2015 to 2019.

The annual statistics report for 2020 by OPEC revealed that Nigeria’s gas output that was 45 billion standard cubic meters as at 2015, rose to 47 billion last year.

The country had produced 45 billion in 2015, 42 billion in 2016, 45 billion in 2017, 44 billion in 2018, and 47 billion in 2019.The Nigerian government had declared 2020 as a year of gas as the COVID19 pandemic ravages world economies, forcing crude oil economies such as Nigeria to search for alternative sources of income.Structures are already being put in place as the country considers making Compressed Natural Gas CNG, Liquid Natural Gas, LNG and other forms of gas more locally accepted as best cooking choice, for automobiles, and industrialisation.

As at 2019, Nigeria ranked the fifth highest natural gas producer in OPEC after Iran with 253 billion standard cubic meters output, Saudi Arabia with 117 billion standard cubic meters, Algeria, 89 billion and United Arab Emirates with 55 billion standard cubic meters.Total OPEC natural gas production for 2019 stood at 641 billion standard cubic meters, whole world production stood at 4092 billion.

North America produces the largest, 1145 billion standard cubic meters, followed by Eastern Europe and Eurasia, 930 billion, Middle East, 701 billion, Asia and Pacific, 656 billion, Africa, 252 billion, Western Europe, 211 billion, and Latin America with 196 billion standard cubic meters production.OPEC share in world natural gas production is approximately 16 percent.

Nigeria, according to OPEC, had approximately 6 billion standard cubic meters proven natural gas reserves as at 2019.

OPEC has a total reserves of 73 billion standard cubic meters, while the world has a reserve of 206 billion.

SOURCE: sweetcrudereports.com