Nigeria lost $176.2 million, about N81.23 billion, to gas flaring in two months, as oil and gas firms operating in the country flared 50.3 billion standard cubic feet (SCF) of gas in the first two months of the year, January and February 2023.
According to latest gas flare data released by the National Oil Spill Detection and Response Agency (NOSDRA), the volume of gas flared in January and February 2023 was 11.9 per cent lower than the 57.1 billion SCF of gas flared in the same period in 2022.
The oil spill remediation agency noted that the gas flared in the period under review was equivalent to carbon dioxide emission of 2.7 million tonnes and has power generation potential of 5,000 gigawatts hour of electricity; while the firms are liable for penalties of $100.7 million, about N46.42 billion.
In comparison, the volume of gas flared in the same period in 2022 contributed 3.0 million tonnes of carbon dioxide emission to the environment and was capable of generating 5,700 gigawatts hour of electricity, while the companies are liable for penalties payment of $114.2 million, about N52.65 billion.
Giving a breakdown of gas flared in the country in the first two months of the year, NOSDRA stated that companies operating onshore flared 24.5 billion SCF of gas valued at $85.8 million, with $49 million penalties payable.
The gas flared also contributed 1.3 million tonnes of carbon dioxide emission and has power generation potential of 2,500 gigawatts hours.
Specifically, the companies flared 19.14 billion SCF of gas in January and 14.04 billion SCF of gas in February 2023.
On the contrary, companies operating offshore flared 25.8 billion SCF of gas valued at $90.4 million; was capable of generating 2,600 gigawatt hours of electricity and had an equivalent of 1.4 million tonnes of carbon dioxide emission.
In particular, the offshore companies flared 10.84 billion SCF and 13.09 billion SCF of gas in January and February 2023 respectively.
The NOSDRA report identified the offending companies to include Shell Petroleum Development Company, who recorded gas flaring from Oil Mining Leases (OML) 11, 13, 14, 17, 18, 22, 23, 26, 28, 30 and 39 among others; Nigerian Agip Oil Company (NAOC), which reported gas flaring from OML 61, 62; and Chevron Nigeria which recorded gas flaring from OML 49, 54, 95, among others.
Other offending company, according to NOSDRA, include Mobil Producing Nigeria, Nigerian Petroleum Development Company (NPDC), Addax Petroleum Limited, Famfa Oil and Elf Petroleum, among others.
Comment here