In an attempt to resolve the issues around sustainable gas availability and marketing the Honourable Minister of Petroleum Resources, Dr. Emmanuel Ibe Kachikwu has stated the imperative of stakeholders’ engagement to review the National Gas Pricing Policy of 2008.
The Honourable Minister stated this at a forum for Stakeholders’ Engagement on the Review of the Mandate of Gas Aggregation Company of Nigeria (GACN) which was set up consequent upon the National Gas Pricing Policy of 2008.
The forum for the Stakeholders’ Engagement on the Review of the Mandate of Gas Aggregation Company of Nigeria (GACN) was held in Abuja, 8th April, 2019 and the Honorable Minister of State for Petroleum Resources was represented at the forum by Dr. Tim Okon, his Special Technical Assistant on Fiscal and Regulation.
Dr. Okon, speaking for the Honourable Minister of State, said the objective of the Stakeholders’ engagement was to bare “the role GACN will play in the regulations and the commercial framework for gas pricing, so that the right signals are sent to the market.” He added that “We want to see the domestic market grow” and this, he said, has to do with “gas pricing for the commercial sector.”
He disclosed that the Element of the Gas Aggregation Company of Nigeria Limited involves “Investments and Opportunities in key areas for Suppliers and off takers, for the Manufacturing Sector, for the Producers and Suppliers of Gas.” Dr. Okon also added that there is a need to compute the average pricing of gas and indicate what the Ministry of Petroleum Resources plans to do, going forward.
Stakeholders at the Engagement on the Review of the Mandate of Gas Aggregation Company of Nigeria (GACN) expressed the view that the proposed GACN mandate ought ensure not just a sustainable commercial framework for gas supply in Nigeria, but reveal to stakeholders that apart from engaging the Ministry of Petroleum Resources and the Gas Aggregation Company of Nigeria (GACN), it should reveal the right authorities when there is a need to fix liquidity and transmission issues.
The Stakeholders present include Representatives of Total E & P Nigeria Limited, Mobil Producing, Nigeria Limited, Chevron and those of Gas Aggregation Company of Nigeria (GACN).
A Deputy-Director in the Gas Department, Mrs. Comfort L. Emebo echoed the request earlier made by her Director, Mrs. Esther Ifejika in pleading with all stakeholders who were present at the review to submit their feedback to the Ministry within one week through official contacts so that the engagement exercise can be successful.
Signed:
Olujimi Oyetomi
Deputy-Director, Press
Ministry of Petroleum Resources.
