Nigeria, 9 others lost over $19bn in revenues to gas flare in 2019

According to Anna Belova, senior oil and gas analyst at GlobalData: “Gas flaring is not only a pollution issue, but also represents significant forgone revenues and economic loss. Ten countries flared over 9.5 billion cubic feet of gas per day (bcfd) in 2019, which exceeded Germany’s demand for natural gas that year. The value of gas flared by top ten countries exceeds US$9.5bn if priced at the US Henry Hub gas prices and adds to $19bn if priced at the UK National Petroleum Board (NPB) prices.”

Belova said lack of access to markets and small volumes of gas produced at individual sites typify the main reasons behind significant flaring volumes globally. Low domestic gas prices in the US, Russia, Iran, Nigeria and Algeria further exacerbate the situation.

In Nigeria, however, the federal government has approved the Nigerian Gas Flare Commercialisation Programme. The programme which was launched in 2016 will offer flare gas for sale by the government through a transparent and competitive bidding process.

A structure has been devised to provide project bankability for the buyers of flared gas.

The purpose of the gas flare commercialisation programme is to reduce the flaring and venting of associated methane gas.

The Department of Petroleum Resources (DPR) recently extended the Bid Submission Due Date (BSDD) of the Request for Proposal (REP) of the Nigeria Gas Flare Commercialisation Programme (NGFCP) by six weeks.

Paul Osu, Head, Public Affair at DPR, who made the announcement in a statement said the extension was sequel to the bidder’s conference which held on February 17, 2020 in respect to the NGFCP.

“Accordingly, the new submission due date shall be April 10. Consequently, qualified applicants should note that inputs, comments and observations on the draft Gas Sales Agreement (DSA) Milestone Development Agreement (MDA), Connection Agreement (CA) and Deliver or Pay Agreement (DoPA) posted on the portal were expected on or before March 5.

“Furthermore, the DPR shall provide relevant updates for data prying and leasing in the data room as necessary within the next one week,” he said.

Osu said that in a bid to further incentivise the programme, the minimum floor price for flared gas would be $0.25 per million standard cubic feet (mscf) for land sites; swamp and shallow offshore sites would be $0.15/mscf, while the minimum floor price for deep offshore would be $0.10 /mscf.

Source: Business Day

NNPC: No More Payment Of Oil Subsidy Going Forward

Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, Monday, hinted of a possible deregulation of the Nigerian downstream petroleum sector, stating that the Federal Government has eliminated subsidy and under recovery in the industry. Speaking in an interview monitored on a television programme in Abuja, Kyari said, “There is no subsidy and it is zero forever.Going forward there would be no resort to either subsidy or under recovery of any nature. NNPC will play in the marketplace, it will just be another marketer in the space.But we will be there for the country to sustain security of supply at market price.” Kyari further disclosed that Nigeria’s crude oil and condensates output has risen to 2.3 million barrels per day. He stated that the output growth, which was achieved on Sunday, was the first time the country was hitting that milestone in very many months and years. He noted that despite the glut in crude oil supply across the world due to the Novel Coronavirus (COVID-19) pandemic, the country was still getting buyers for its crude oil, while he added that the number of stranded vessels carrying Nigeria’s crude oil had dropped to less than 20. He said, “There is no challenge with that. The buyers have choice now. Choice of quality and choice that is associated with distance. These two factors will determine which crude oil consumers buy. Our major source of trade is Europe, followed by Asia, particularly India. “And in times like this when crude oil prices go down, what buyers do is to buy the cheap crude available and take them into storage. So the way to gauge this is when your buyers do not return the crude after six days of purchase. For by contract, after allocation of a cargo, the buyer is supposed to come back to you within six days and say I cannot take this. There is a legitimate right to do that.“But none of our partners have come to tell us that they cannot take our crude and it is way pass the six days. This means that they have found value for this crude. Value here does not necessarily mean taking it into the refineries, it can mean taking it into storage or even floating it in the vessels. That is why people are now using these vessels as storage facility because they know that a change in price will come very shortly.“When we say that our crude is stranded, it means that at a point in time when traders are not able to tell you where they are taking it to. It does not mean they did not buy it. It means that you have to watch, although there is concern because they have not come back to take the next cargo.“When we reported stranded cargo it means that our partners are unable to find a way around it as at the point in time we reported. But I am happy to announce that that number has gone down substantially, I don’t have the exact numbers for today, but it is now less than 20.” Kyari further projected that crude oil prices would end the year at an average of $30 per barrel going by global economic trend. He said, “The change in price as at this morning means that people are recovering from the impact of COVID-19 and it means that countries will go back to work and consumption will gradually recover. But if the pandemic does not reduce to a point where you have at least 75 per cent of people coming back to work, then you will have a challenge. But once about 80 per cent of the world population return to work, then our crude will be sold and there are no concerns. “In every country, like in our own country, we have some facilities that produce at more than $30 per barrel and there are also those that produce at below $20, say $15, $16, $17 per barrel. So at times like this you focus on assets that produce at low costs. “Also at time you see people trying to see if they sell below their production cost and see how they can sustain it for the few months that the challenge will last and work towards closing the gap. We are looking at all options.”Kyari further stated that Nigeria was endowed with premium crude oil grades which is supplied to Europe, Asia and India, stressing that despite the COVID-19 pandemic which has affected demand and supply fundamentals, all of Nigeria’s export terminals were still in operations. He said, “The key issue in crude oil business is market fundamentals of demand/supply. I believe COVID-19 will subside and countries will come back to life. I don’t see oil price going below the $20 we saw last week. I’m certain, all things being equal, oil price will bounce back.”The NNPC’s helmsman assured Nigerians of ample supply and distribution of petroleum products, stating that despite the Coronavirus pandemic, the corporation had in stock about 2.6 billion litres of petroleum products that could service the country’s energy needs for the next two months. Furthermore, Kyari noted that as part of its contribution to build a robust healthcare for Nigeria, the Nigerian oil and gas industry is set to embark on the construction of, at least, two hospitals and a world class diagnostics center in each of the geopolitical zones in the country, in addition to the 250 temporary bed facilities that it offers to support government’s efforts in the fight against the Cronavirus pandemic. He explained that the hospitals and the world class diagnostics centers would be an addition to the regular Corporate Social Responsibility (CSR) initiatives of the upstream and downstream companies, as well as service providers operating in the oil and gas industry.https://www.vanguardngr.com/2020/04/oil-price-slump-fg-not-returning-fuel-subsidy-under-recovery-nnpc/

Pipeline explosion averted in Aboru, Lagos

The Nigeria Security and Civil Defence Corps says it averted an oil pipeline explosion in the Aboru, Agbado/Oke Odo Local Council Development Area, Lagos State on Sunday.

The commander of Agbado/Oke Odo Unit, Mr Malik Ojetola, said in a statement on Sunday that the unit rushed to the scene after received a distress call from members of the affected community.

“A distress call was received from the CDA on Sunday at 6.30 a.m that petrol was gushing out of an oil pipeline at Ola Mummy – Aboru.

“On getting to the spot, we discovered that the fuel was not gushing out directly from an NNPC pipeline but a location adjacent – about 50ft from the NNPC pipeline.

“A call was put through to an NNPC maintenance team; the team arrived at 10.15 a.m,” he said.

“The attached pipe has a tap-like valve permanently opened where it is connected to the pipeline.

“The other end of the attached pipe also has a tap valve normally used to open and close the flow of the fuel.

“Firefighters from the Lagos State Fire Service and Lagos State Emergency Management Agency later joined the team on ground to avert explosion and prevent any casualty.

“The maintenance work was completed around 2.12 p.m.”

SOURCE: Punch

‘$6b required to develop 5m tons LPG infrastructure’

At least $6 billion is required to develop infrastructure to enable Nigeria achieve the 2023 target of  five million tons of liquefied petroleum gas (LPG) also called cooking gas consumption.

Programme Manager, National Liquefied Petroleum Gas Expansion Plan, recently constituted by the Federal Government to advance consumption of gas in-country, Mr. Dayo Adeshina, told The Nation that with the cash, the infrastructure that will aid the attainment of that local consumption target could be built.

He noted that with increased use of LPG in various sectors of the economy, the volume of carbon dioxide emission would substantially reduce, adding that more jobs would be created.

Adeshina, a former President of Nigeria Liquefied Petroleum Gas Association (NLPGA), gave a breakdown of the various sectors of the economy where the infrastructure would be built and the estimated cost.

In production sector where players like the Nigerian National Petroleum Corporation (NNPC), oil majors, such as Shell, ExxonMobil, Chevron, Total and independent such as Seplat and Aiteo operate, Adeshina stated that about $500 million is required to build the infrastructure for LPG production from associated gas, including liquefied natural gas and natural gas liquids.

In product transportation sector like rail, shipping, including other vessels as operated by the Nigeria Liquefied Natural Gas (NLNG), NNPC, Inland Waterways and Railways, an estimated $1.5 billion is required for the infrastructure.

For the storage, manufacturing, bulk breaking and bottling sector, he said storage and manufacturing, such as storage of shipped LPG in  large storage tanks and depots, use of trucks (bulk trucks) with estimated 5000 bridgers (trucks) required, including inland storage facilities, will require investment of $500 million. Operators in this sector include NLNG, NIPCO, Oando and Harig.

For bulk breaking and bottling, where major marketers and small and medium enterprises (SMEs) can operate, Adeshina said an investment of $750 million purchasing of cylinders, refilling of LPG in smaller cylinders and bottles, estimated 10,000 trucks and about 3000 filling plants required.

In distribution and marketing where the product is transported from bottlers to end users as well as procurement of cylinders for the implementation of marketer-owned cylinder model, he said $800 million investment is required. Some of the companies playing in this sector include TotalGaz, Oando and NIPCO.

Investment in end-users infrastructure has the highest amount of $2 billion. It will go into heating, cooking, manufacturing activities, automotive, industrial, cylinder delivery trucks and bobtails, establishments of autogas workshops and training of personnel, he said.

The Federal Government had set a target to achieve LPG consumption of five million tons by 2023 with a target to get 60 million homes on board, which will increase household LPG consumption from 750,000 tons to two million tons by 2021 through increased general acceptability and awareness, among others.

Other areas include agro-processing, where it intends to achieve one million tons of LPG consumption by 2021, through clean mechanised farming by 20 per cent reduction in diesel/fuel consumption. Through this carbon dioxide (CO2) emission of total agro-processing machinery activities will be reduce by 10 per cent and will also increase organic and efficient farming

SOURCE: The Nation

COVID19: Equities market shed N399.82bn in a week

Amid the rising cases of coronavirus in Nigeria, presidential directive to lockdown Lagos state and Abuja for 14 days and further drop in crude oil prices, especially Bonny Light which fell to USD21.41 per barrel on Thursday, April 2, 2020, from $24.83 per barrel on Thursday, March 26, 2020, the Nigerian equity market depreciated by 3.51 per cent week-on-week, (WoW).

Consequently, the All Share Index (ASI) and market capitalisation of the Nigerian Stock Exchange (NSE) declined by 3.51 per cent to close for last week at 21,094.62 absolute points and N10.99 trillion respectively as against 21,861.78 absolute points and N11.39 trillion recorded in the preceding week.

This in nominal term translates to a loss of N399.82 billion in market capitalisation value (WoW).

Amid sustained bearish activity, most of the sub-sector gauges declined: the NSE Banking, the NSE Consumer Goods, the NSE Industrial and the NSE Insurance indices fell by 5.26 per cent, 3.93 per cent, 1.22 per cent and 0.27 per cent, respectively to 234.47 points, 314.16 points, 1,028.33 points and 117.77 points respectively.

Only the Oil & Gas sector closed positive by 2.33 per cent week-on-week basis, driven by renewed hope of an unprecedented output cut from the OPEC+ cartel in the coming week, after the U.S. president intervened in the ongoing “oil price war between Riyadh and Moscow.

However, transaction volumes increased by 5.71 per cent to 1.53 billion shares. A total turnover of 1.534 billion shares worth N11.267 billion in 18,928 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.452 billion shares valued at N14.918 billion that exchanged hands last week in 21,828 deals.

The Financial Services industry (measured by volume) led the activity chart with 1.105 billion shares valued at N7.100 billion traded in 12,225 deals; thus contributing 71.99 per cent and 63.02 per cent to the total equity turnover volume and value respectively.

The Industrial Goods followed with 218.471 million shares worth N1.236 billion in 1,610 deals. The third place was the Consumer Goods industry, with a turnover of 134.599 million shares worth N1.855 billion in 2,332 deals. Trading in the Top Three Equities namely, Sterling Bank Plc, Zenith Bank Plc and Meyer Plc. (measured by volume) accounted for 752.359 million shares worth N3.247 billion in 4,039 deals, contributing 49.03 per cent and 28.82 per cent to the total equity turnover volume and value respectively.More in Home

In the absence of any major breakthrough in efforts to find a lasting solution to the scourge of Covid-19, globally and domestically, Analyst at GTI expect sentiment on the local bourse to remain subdued in this week.

“Nonetheless, we believe the current attractive valuation of many fundamentally viable stocks in the Nigerian market offers a potential medium-to-long term alpha return to desiring investors.”

Cordros Capital analysts expect the local bourse to close in red territory amid low crude oil prices. “As more state governors take stricter measures to strengthen social distancing mandate, we expect share prices to moderate. Notwithstanding, we expect investors to take position in companies with high beta and dividend yield,” they advised.

Nigeria’s oilfields face shutdown risk amid volatile market

The collapse of crude oil prices and the oversupply of the commodity in the global market amid shrinking demand may force some producers in Nigeria to shut down their oilfields, ’FEMI ASU reports

Given the high cost of producing a barrel of crude oil in Nigeria, the current market turmoil caused by the coronavirus pandemic and exacerbated by the price war between Saudi Arabia and Russia is taking a huge toll on producers in the country.

Industry analysts have said the downturn in the global oil market might lead to the suspension of production by some operators in the country.

The international oil price benchmark, Brent crude, fell to $22 per barrel on Monday, its lowest level in 18 years this week, forcing some global producers to start shutting down their oil rigs.

Goldman Sachs, the US banking group, said on Monday that oil well shut-ins had reached at least 900,000 barrels of oil a day, but “the true number [is] likely higher and growing by the hour”.

“Given the cost of shutting down a well, a producer would be willing to pay someone to dispose of a barrel, implying negative pricing in landlocked areas,” the bank said in an investor note.

Last month, the Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, noted that about 50 cargoes of Nigerian crude oil had yet to find buyers “due to the drop in demand.”

According to Kyari, the current cost of crude oil production in the country is within the range of $15 to $17 per barrel, while Saudi Arabia has a cost of production that is between $4 and $5 per barrel.

He said countries producing at the cheapest price would remain in the market while those with high cost of crude oil production would not be able to cope with the competing prices.

An energy expert and a former board member of the NNPC, Alhaji Abdullahi Bukar, told our correspondent that producers in Nigeria might have to scale down their operations.

“If oil prices drop to around $10 or $15, there has to be a lot of efforts either to reduce some of the things we are seeing now that form part of the cost of operating the fields or a lot of production will go out.”

He, however, said some companies would still be able to produce smaller volumes at those low prices.

Bukar said, “The producers will continue to produce whatever they can but they will slow down in increasing or maintaining capacity. They will try to cut the costs of whatever they are doing, so that the operations remain profitable.

“They need the help of government, communities and other stakeholders to also cut down their demands so that they can keep people happy and working, and lower the unit operating cost of Nigerian crude oil so we can remain in business. It is a very tough time.”

He said the marginal field operators would suffer the most, “more especially as unfortunately in the last few months, the quota system has been applied to them.”

“When you tell someone who is producing 2,000 barrels to cut off 20 per cent of its production, you have damaged him. So, the marginal field operators need to be allowed to produce at whatever level they can, so they can survive,” Bukar added.

An energy expert, Mr Bala Zakka, said several companies would have to shut down their oilfields, adding that the small players would be hit the most.

“The amount of work the small players may need to do to produce the crude oil may not be as complicated as that of the big players. But when it comes to availability of funds, they don’t have the leverage that big players have,” he said.

The Chairman/Chief Executive Officer, International Energy Services Limited, Dr Diran Fawibe, said the loss to be incurred by the companies if they shut down production might be more than the loss caused by the crash in oil prices.

He said, “The situation is bad enough, but if you shut down, it is not at zero cost. So, do you now shut down and start to incur the costs associated with non-production? If you are producing, even though it is not economical, you may then have a reduced level of production.

“There are various scenarios about oil production level in the country depending on what happens. If the situation worsens and the price goes below $20 per barrel, then we will be talking about a new scenario completely. And I believe the government is monitoring the situation very keenly with a view to taking appropriate measures.”

The US oil producers were said to have shut 40 rigs last week alone, according to a review from engineering group Baker Hughes, the biggest one-week drop since the last oil market downturn battered the US shale industry in 2015.

Goldman Sachs estimated that global oil demand had fallen 25 per cent in the wake of the coronavirus outbreak and the price of Brent crude could fall to lows of $20 a barrel.

A Norwegian consultancy, Rystad Energy, said last week that oil prices could fall as low as $10 a barrel if the economic impact of the coronavirus dents global oil demand by 16 million barrels of oil a day.

Last week, a major Nigerian independent oil and gas firm, Seplat Petroleum Development Company Plc, said it was looking to cut costs by at least 30 per cent to counter a crash in crude prices.

Its Chief Financial Officer, Roger Brown, said Seplat’s western Nigeria assets could continue producing even at oil prices below $20 per barrel, as revenues from gas help shield them from the downturn.

He said other projects, such as the Gbetiokun oil field, which produced its first oil in July, would struggle to remain profitable, if oil prices stayed close to $25 per barrel.

“At some point, you would shut it in if the oil price stays below that level,” he added.

Nigeria, Africa’s top oil producer, relies on crude oil for most of its export earnings and government revenue. Oil production in the country has continued to hover between 1.9 million barrels per day and 2.2 million bpd in recent years.

The 2020 budget, which was signed by the President, Major General Muhammadu Buhari (retd.), in December, was based on oil production of 2.18 million barrels per day with an oil price benchmark of $57 per barrel.

The Federal Government, which was looking to generate 32.34 per cent (N2.64tn) of expected total revenue from oil, has been forced to propose the reduction of the oil price benchmark to $30.

The Head of Exploration and Production at Vitol, Andrew Lewis, said many companies would want to avoid shutting production entirely, but even small cuts could be political decisions involving host countries that rely on energy royalties.

“Governments are going to be involved in these decisions. When the production needs to come back, it will not, however, be switched back on overnight,” he was quoted by Financial Times as saying.

Source: Punch

Cooking gas sellers get exemption from lockdown

COOKING gas retailers have obtained an exemption from the lockdown, the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) said on Wednesday.

Its Executive Secretary, Mr Bassey Essien, said in a statement that in a bid to avoid a misinterpretation of the directive, NALPGAM sought clarification from the Lagos State Ministry of Energy and Resources.

It said it got clarification that gas plants and retail outlets are part of essential service providers.

NALPGAM said: “The fact that people have to stay indoors for two weeks in the first instance entails that households must cook and eat for the stay-at-home order to be effective.

“Lagos State Government, through the Ministry of Energy and Mineral Resources, granted the approval that gas plants and cooking gas retailers and their personnel are classified as essential service providers and their product essential in ensuring the sustainability of the people’s continued stay at home to curtail the spread of COVID-19.

“Therefore, LPG plants are part of the essential services and are exempted from the lockdown and should thus be granted access to the smooth running of their facilities and operations, as well as free movement of their personnel from their homes to the facilities.”

Essien urged gas plants to maintain all safety and hygienic measures to prevent the spread of COVID 19 while workers must have their identity cards.

NALPGAM said it has written the Nigeria Governors’ Forum (NGF) for other states to make similar clarifications.

SOURCE: The Nation

NUPENG Distributes Sanitisers, Safety Gears to Members

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has distributed hand sanitisers, safety gears to tanker drivers and other vulnerable members at various operational locations.

According to a statement jointly signed by the National President of NUPENG, Williams Akporeha, and General Secretary, Afolabi Olawale, the union carefully engaged a pharmaceutical company to produce the sanitiser specifically for its members in Nigeria.

The statement explained that the sanitisers come in 10 litres transparent jerry cans to serve as refill for dispensers with other safety kits, such as hand gloves and mouth masks, “which we had already distributed across to all our zonal offices in Port Harcourt, Kaduna, Warri and Lagos.”

It explained there are 154 petroleum loading depots across the country, adding that presently there are 120 of these numbers in active operation.

According to the statement: “Petroleum Tanker Drivers (PTD) Branch of NUPENG has about 300 places across the country that serve as their Stop-Over-Point for resting and recreation, we will be distributing these items to all these places too.

“Conservatively, we will be sending out about a 1000 of these items every week until the siege is over. ADCEM pharmaceutical company may not have the capacity to meet this demand and we are in talks with other companies to support this production. We are also going to provide further logistics and support to our members as we deemed necessary. Oil and Gas Workers need all your support at this period and we are doing this from the meager savings we have.”

SOURCE: This Day

OPEC to hold emergency meeting with Russia, others on output cut

The Organization of Petroleum Exporting Countries (OPEC) has invited Nigeria and other members of the group for an emergency meeting scheduled for Monday next week in an attempt to strike a deal to cut production output to strengthen crude oil prices.

The meeting, which is expected to be via video conference, would be coming days after OPEC daily basket crude oil price made a marginal recovery to $18.93 per barrel on Thursday, after crashing to an all-time low level of $16.87 per barrel on Wednesday.

OPEC secretariat officials said the meeting called by Saudi Arabia, the group’s largest producer, would involve Russia and other non-OPEC allies to attempt to reach a consensus on output cuts to halt the rapid slide in crude oil prices in recent times.

The United States President, Donald Trump, had tweeted on Thursday that he had prevailed on the Saudi Arabia to convene the meeting that would allow members end the price wars and agree on production cuts to restore “balance” to the oil market.

The last time the group attempted to take a decision on a 2.5 million barrels cut, Russia mobilised its allies to frustrate the Saudi Arabia-led effort, resulting in a decline in price below $30 per barrel.

With the outbreak of the deadly coronavirus hitting hard on the global economy, crude oil prices have continued to drop since then, with most resource-dependent countries like Nigeria forced to review its budget fundamentals and benchmarks for the 2020 fiscal year.

News of the proposed meeting resulted in a rally in price on Friday, with Brent Crude for June delivery rising by about 14.20 per cent increase to about $34.19 per barrel on Friday.

The recently inaugurated Economic Sustainability Committee headed by Vice President Yemi Osinbajo said the country is facing an unprecedented economic challenge.

The ommittee was constituted by President Muhammadu Buhari on Monday to design and respond to the impact of the COVID-19 pandemic and the crashing of oil prices in the global market.

In the last several weeks, crude oil prices have crashed below the budget benchmark price of $57 per barrel to less than $20, even as the impact of the coronavirus pose a grim prospect of looming recession.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the government will implement a 50 per cent cut in revenue from privatisation proceeds.

The government also announced a cut in crude oil benchmark price, down to $30, while crude oil production remains at 2.18m barrels per day as earlier contained in the budget estimates.

Amid the growing uncertainty, Nigeria faces the challenge of seeking buyers for its unsold crude, with reports of the country compelled to lower its official crude oil selling price to record lows to attract buyers.

Nigeria: Improved Gas Supply Pushes Power Generation to Over 4,200MW

Following the intervention of the Nigerian National Petroleum Corporation (NNPC) in addressing the issue of gas availability to thermal power plants, power supply has risen above 4,200 megawatts.

The Transmission Company of Nigeria (TCN) thursday announced an improvement in power generation following the supply of gas to thermal power plants.

The data from the Office of the Vice President, Prof. Yemi Osinbajo showed that 4,257 megawatts-hour/hour, was sent out to power users on March 30.

The data noted that the 4,257MWh/h energy was 273.48MW higher than what was generated the previous day.

It showed an improvement in power generation and supply as a result of supply of gas to thermal plants.

TCN had on Monday disclosed that the power sector had in the past weeks continued to experience power supply shortage due to serious gas constraints to most of the nation’s thermal generating stations.

TCN had also explained that gas shortage had restrained optimal generation into the grid and consequently the quantum of electricity transmitted to distribution load centres.

It stated that many thermal power plants could not get gas, adding that the most affected were Geregu Gas Station, Geregu National Integrated Power Project and Sapele NIPP.

However, in another update on Wednesday, TCN said the intervention of NNPC had helped in addressing the issue of gas availability to thermal power plants.

This, TCN stated, had significantly improved gas supply to gas generation stations nationwide.

TCN General Manager, Public Affairs, Ndidi Mbah, said most power plants previously experiencing gas supply shortage had started generating power to the grid.

“If the trend continues, the problem of gas supply to power plants will be resolved in a matter of hours and power distribution companies as well as point load consumers of electricity will be adequately served,” she stated.

Read the original article on This Day.