{"id":98847,"date":"2023-10-27T22:22:50","date_gmt":"2023-10-27T21:22:50","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerias-5bn-gas-earnings-low-shettima"},"modified":"2023-10-28T00:49:51","modified_gmt":"2023-10-27T23:49:51","slug":"nigerias-5bn-gas-earnings-low-shettima","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima","title":{"rendered":"Nigeria\u2019s $5bn gas earnings low \u2013 Shettima"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>Vice President, Senator Kashim Shettima has decried that Nigeria\u2019s $5 billion gas earnings were insufficient compared to the Nation\u2019s reserve.<\/p>\n

Shettima disclosed this Thursday in his remarks at the 6th Valuechain Annual Lecture and Awards in Abuja.<\/p>\n

The Vice President was represented by his Special Adviser on Energy and Power Infrastructure, Sodiq Wanka, who said that Nigeria has over 200 trillion cubic feet of untapped gas resources and ranks 9th globally regarding proven reserves.<\/p>\n

He said the impact of truly exploiting the Nation\u2019s gas reserves could not be overstated as gas was critical to the Nation\u2019s power supply, not only accounting for 80 per cent of power generation, but expected to be the dominant power generation source by the end of this decade.<\/p>\n

\u201cToday, Nigeria earns around $5bn from gas production, 40 per cent less than in Egypt, which has around 30 per cent of Nigeria\u2019s reserves.<\/p>\n

\u201cOur production-to-reserve ratio is less than a third of Egypt\u2019s, less than a quarter of Algeria\u2019s and around 10 per cent of Malaysia\u2019s. In the aftermath of the Russia-Ukraine war, the EU and many other nations were shopping for Liquefied Natural Gas.<\/p>\n

\u201cNigeria\u2019s largest Liquified Natural Gas, LNG, assets were operating significantly below capacity because of inadequate gas supply.<\/p>\n

\u201cAt this rate, according to a decade of gas analysis, we could have a demand-supply gap of up to 10bscfd (billion standard cubic feet per day) of gas by 2030,\u201d he said.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. Vice President, Senator Kashim Shettima has decried that Nigeria\u2019s $5 billion gas earnings were insufficient compared to the Nation\u2019s reserve. Shettima disclosed this Thursday in his remarks at the 6th Valuechain Annual Lecture and Awards in Abuja. The Vice President was represented by his Special Adviser on Energy and Power Infrastructure, Sodiq […]<\/p>\n","protected":false},"author":84,"featured_media":98846,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1570,2140,254,1837],"class_list":["post-98847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-nigeria-2","tag-nigeria","tag-shettima"],"yoast_head":"\nNigeria\u2019s $5bn gas earnings low \u2013 Shettima - Nigeria<\/title>\n<meta name=\"description\" content=\"Vice President, Senator Kashim Shettima has decried that Nigeria\u2019s $5 billion gas earnings were insufficient compared to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s $5bn gas earnings low \u2013 Shettima\" \/>\n<meta property=\"og:description\" content=\"Vice President, Senator Kashim Shettima has decried that Nigeria\u2019s $5 billion gas earnings were insufficient compared to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-27T21:22:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-27T23:49:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/10\/sm_1698434081.815003.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"676\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Nigeria\u2019s $5bn gas earnings low \u2013 Shettima\",\"datePublished\":\"2023-10-27T21:22:50+00:00\",\"dateModified\":\"2023-10-27T23:49:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima\"},\"wordCount\":259,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2023\/10\/sm_1698434081.815003.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"Nigeria\",\"Shettima\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/nigerias-5bn-gas-earnings-low-shettima\",\"name\":\"Nigeria\u2019s $5bn gas earnings low \u2013 Shettima - 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