By HECTOR IGBIKIOWUBO & OSCARLINE ONWUEMENYI
ABUJA – PRESIDENT Goodluck Jonathan, yesterday, said that the launch of the Gas Revolution: Rebirth of Industrialization agenda was bound to deliver the country from hopelessness and truly reposition it to become the industrial giant of the continent.

The President said that over the next few years, full implementation of the entire gas master-plan agenda would result in about $25 billion worth of investments in gas processing, transmission and downstream  utilization projects.

Highlight of the event was the signing of Memorandum of Understanding, MoU, between the Nigeria National Petroleum Corporation, NNPC, and representatives of two foreign investors, namely Xenel of Saudi Arabia and Nagarjuna of India; and Chevron Nigeria Limited.

Two other companies, Oando Nigeria Plc and Agip Petroleum were awarded contracts for the development of the anchor Central Processing Facility, CPF, to be located in Obiafu, Rivers State and Warri, Delta State.
President Jonathan said: “As a nation, we are continually striving to realize the fullness of our potential.

Very few nations can boast of the resources we have, both natural and human. Our proven gas reserves base of 187 trillion cubic feet and a further undiscovered potential of 600 trillion cubic feet, leave us with no excuse for the relatively high rate of unemployment and under-industrialization.

Today we take a small but important step in a conscious effort to reverse that trend. Today marks the beginning of what I believe will be an amazing journey of transformation of our own destiny and the restoration of Nigeria into the league of nations which have leveraged their strength in the abundance of natural gas, to transform the lives of present and future generations of Nigeria.

Regional hub

“By 2014, we would have positioned Nigeria firmly as the undisputed regional hub for gas based industries such as fertilizer, petrochemicals and methanol. We would by then, be producing enough fertilizer to create a self sufficient country and a net exporter of fertilizer and food to the world. We would be the leading regional centre for petrochemical production and manufacture of petrochemical related products both for local and export use.”

Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said the boost in LPG production from the proposed land-based Central Processing Facilities, CPF, to be located in Obiafu, Rivers State and Warri, Delta State, will result in widespread availability of LPG and significant reduction in LPG price.

She said: “We believe that this will displace as much as 60 per cent of the eight million litres of  kerosene consumed daily for household use.  The replacement of firewood by the much cleaner LPG will reduce deforestation and desertification. Natural gas will replace fuel oil as fuel for industrial boilers. Above all, this agenda sets the tone for the final stop of gas flaring in Nigeria as the markets created provide a sink for all currently flared gas,” she added.

Alison-Madueke noted that the gas revolution also comprises government’s ongoing effort in gas to power. She said: “Based on the various steps that were taken last year to reposition the commercial framework for gas in the domestic market, I am confident that we now have in place, a more sustainable framework to assure gas availability to Power.

The impact is becoming evident as we a great improvement in gas supply performance relative to last years. Our power agenda will create the undertone for even more widespread wealth.”