Nigerian natural gas reserves as at 1st May, 1998 was estimated to be about 120 trillion cubic feet, with a life index of 92 years at a gas depletion rate of 1. 03% per annum. This was twice the total crude oil reserve of the country at that time. Currently, Nigeria’s Natural Gas reserves are estimated to be in the region of 140TCF with up to 45TCF as yet untapped in recoverable reserves.
Nigeria is ranked 9th in the world’s highest gas reservoir countries and second in Africa after Algeria. Most of the gas however, occurs in association with oil hence the high daily production of the commodity in excess of what could be conveniently consumed or profitably harnessed.
Regarded as one of the best in the world, Nigeria’s Natural Gas is not high in Hydrogen Sulphide (H2S) or Carbon Dioxide (CO2) impurity levels to marketing. Despite this advantage gas flaring (estimated at 2. 2 Billion Naira/ Day). Constitutes, to date, a phenomenal wastage in Nigeria’s resources.
The Nigerian Gas Association (NGA) is run by a council of elected officers who serve for a single term of two years. The Association’s elections usually hold just before the commencement of its Annual General Meeting (AGM). The Association also has a functional secretariat that is staffed by competent administrative personnel to provide members and non-members with information and other support activities as required.