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1、“CURRENT GAS POLICIES:CHALLENGES AND PROSPECTS”A PRESENTATION AGIS INAUGURAL SUMMIT-Ignite the Future:Driving Sustainability in Africas Energy Landscape through Gas Technology and Innovation.Abuja|June 13-14,2024NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION Engr.Gbenga KomolafeFNSE,OFRCommission
2、 Chief ExecutiveNIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION Petroleum Industry Act(PIA)New EraPIA Incentives&FeaturesPeaceful and harmonious co-existence between operators and host communitiesEnvironmental SustainabilityA New Era of CertaintyInstitutional GovernanceAdministrationAttractive Fis
3、cal RegimesHost Communities2NUPRC209.26 TCF(Trillion Cubic Feet)of Natural Gas Reserves 33rdin Gas Production1stin Gas Reserves12thin Gas Production9thin Gas ReservesSecond largest LNG exporter and third largest gas producer in AfricaOverview of Nigerias Gas Resource&InfrastructureNIGERIAN UPSTREAM
4、PETROLEUM REGULATORY COMMISSION AKKTNGPOB3ELPSEGP7.5BSFDProduction 6.86-7.2 BSCFDFlaring 0.48-0.52 BSCFD4Impacts of PastImpacts of PastGas Policies Codified in the PIA&The Presidential Directives 40NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION The Gas Policy 2017The Gas Policy 2017 Aimed at usin
5、g Gas as a catalyst for industrialization Intent is to shift from rent seekingPetroleum Industry Act PIA-2021 Petroleum Industry Act PIA-2021 Enhanced Legislative FrameworkEnhanced Legislative Framework Fosters:Fosters:TransparencyTransparency Predictability Predictability Clarity and delineation of
6、 institutional rolesClarity and delineation of institutional roles Influencing the Investment climateInfluencing the Investment climateNEW FISCAL INCENTIVESDIRECTIVESFOR NAG2024 Executive Order Segmentation of the Gas value chain into Up/Mid&Downstream Creates focused identity&development of each se