Expert Says Oil Companies May Continue To Flare Gas Beyond 2015 The Oil firms in Nigeria, especially the International Oil Companies (IOCs), may continue to flare the nation’s gas resources beyond 2015, Prof Yinka Omoreghe, an energy expert, has said. Prof Yinka Omoreghe, a law professor and an energy economist at the Nigerian Institute of Advance Legal Studies, said this in an interview with the News Agency of Nigeria (NAN) in Abuja Omoreghe, a fellow of the Nigerian Association of Energy Economics, said the 2015 deadline to end gas flaring might not be feasible, attributing this to lack of political will and other factors. The don said that although the Federal Government tried to end natural gas flaring over the years, the flare out deadline had been repeatedly postponed. She said that the continued flaring of gas in the country, amidst gas supply shortfall in the domestic market, constituted not only an environmental disaster, but also economic tragedy. Omoreghe stressed the need for a legal framework and the political will to stop massive flaring of natural gas in the country. “Why are we the only country that has refused to tackle gas flaring; from what I see, stoppage of the gas flaring in 2015 may not be feasible. “However, where there is a will, there is a way. Once we put in the infrastructure for gas utilisation, we will be able to stop the flaring. “Once we are really determined, we will admit to the need to stop gas flaring; we will shut production in areas where it cannot be utilised and cannot be re-injected,” she said. Omoreghe said the problem was not that of the international oil companies, “but ours as a country”. “It is not an IOC problem, it is our own problem. “ It is the lack of political will combined with other factors because there is no reason why other countries were able to reduce gas flaring and we cannot,’’ she said. Omoreghe, who also called on the National Assembly to expedite action on the passage of the Petroleum Industry Bill (PIB), said its passage could be linked to ending the gas flaring. According to her, the passage will stimulate activities in gas projects and infrastructure. “The passage of PIB is somehow linked with the stoppage of gas flaring, just as electricity is linked to natural gas without frame work, gas flaring is linked to the natural gas without frame work,’’ she said. The professor said that the bill, if passed, would attract investors into projects and production. “The gas utilisation projects are stimulated by the investment framework and the physical framework that we found in the bill. “Tell an investor to come and invest, he will tell you that I am not coming if I cannot see the workable investment framework, so that is the link,’’ she said. She urged the Federal Government to put in place gas utilisation projects and schemes to accelerate the stoppage of gas flaring. (NAN)
Posted on: Mon, 17 Mar 2014 12:07:26 +0000
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