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BY TAYO ELEGBEDE
The Federal Government has inaugurated the Nigeria Gas Transportation Network Code to deepen the growth of gas market in the country.
The Minister of State for Petroleum Resources, Timipre Sylva, disclosed this at the Virtual launch of The Go-Live of the Nigerian Gas Transportation Network code, in Abuja on Monday.
Sylva said the Nigerian Gas Transportation Network Code will make Nigeria a major gas market for both national and International Investors and consumers.
He said, “The implementation of the Network Code, which is a set of rules and principles guiding the use and operations of the gas transportation network system, is another milestone that underscore government’s efforts to boost consumption of gas in-country.”
He stated that the network code will also unleash Nigeria’s potentials of accelerated growth and economic development
“In the coming months, this Code, together with related interventions, will enable improved gas supply to power, growth of Gas Based Industries (GBIs), domestic Liquified Natural Gas( LNG) , Liquified Petroleum Gas (LPG) and Compressed Natural Gas (CNG) penetration as well as enhanced revenue to government and creation of opportunities for our teeming populace.”
The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kyari, noted that the network code marks the beginning of progress for the industry.
“Some of our financing structures are hinged on tariff on gas transportation.
We can’t get that right until there’s the right framework which the network code provides,” the NNPC boss remarked.
ELEGBEDE TAYO OREDOLA , a journalist with five years professional experience is self motivated and a team player. Her experience came from diverse media, like The Guardian Newspaper, Radio Nigeria among others and now with the INSIDEBUSINESS in the bid to explore the new media.
Email: [email protected]
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