The Nigerian National Petroleum Company Limited has stated that the country is currently struggling with insufficient funding to develop its domestic gas projects.
It said the low funding is being exploited by international oil companies who only assist to export gas.
The Group Chief Executive Officer, NNPCL, Mele Kyari, made this disclosure while speaking at a Strategic Panel Session titled, “Decarbonising Operations across Upstream, Midstream and Downstream” at the ongoing Abu Dhabi International Petroleum Exhibition & Conference in Abu Dhabi, United Arab Emirates, on Tuesday.
According to a statement signed by the Chief Corporate Communications Officer NNPCL, Olufemi Soneye, this year’s edition, the 40th in the series of the annual event, holds under the theme , “Connecting Minds Transforming Energy” as global energy leaders continue to find ways of accelerating innovation and collaboration towards fast tracking global energy transformation.
Kyari, who was represented by the Executive Director, Upstream, Oritsemeyiwa Eyesan, said Nigeria sits on huge gas reserves of up to 209 trillion cubic feet.
