By Adedapo Adesanya
Nigeria’s natural gas production rose to 47 billion standard cubic meters (bscm) from 2015 to 2019, according to statistics from the Organisation of the Petroleum Exporting Countries (OPEC).
The annual statistics report for 2020 by OPEC revealed that Nigeria’s gas output, which stood at 45 billion standard cubic meters as at 2015, rose to 47 billion last year.
The country had produced 45 billion standard cubic meters in 2015, 42 billion standard cubic meters in 2016, 45 billion standard cubic meters in 2017, 44 billion standard cubic meters in 2018, and 47 billion standard cubic meters in 2019.
And with the declaration of 2020 as a year of gas, especially as the COVID-19 pandemic ravages world economies, crude oil economies such as Nigeria have been forced to search for alternative sources of income, became pertinent.
The Nigerian government noted that 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 the 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 (UAE) 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 4,092 billion.
By continental breakdown, North America produces the largest with 1,145 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.
Out of these, OPEC’s share in world natural gas production is approximately 16 per cent.
Nigeria, according to OPEC, had approximately 6 billion standard cubic meters proven natural gas reserves as at 2019.
OPEC has total reserves of 73 billion standard cubic meters, while the world has a reserve of 206 billion standard cubic meters.
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