ANOTHER GHOST GAS PROJECT IN NIGERIAN OPERATING SPACE
The Central Bank of Nigeria has released billions of naira to fund another racket coloured as Nigeria Gas Expansion Program, NGEP, to swell the private vaults of a chain of beneficiaries for adding practically no tangible value to gas development in Nigeria.
What nonsense ghost gas expansion project are the racketeers referring to? How will Nigeria develop with all of this sustained economic sabotage.
I have repeatedly written on this subject matter that natural gas is being produced by the International Oil Companies (IOCs) and Nigerian indigenous companies, including NNPC E & P LTD/ND WESTERN LTD, Shell, Chevron, Agip, Mobil, etc which are the JV operators of oil and gas assets.
The companies paid by CBN on this phantom gas project are not among the JV operators of oil and gas assets. So what is the justification for paying them money by CBN?
What is the legal content of Gas Expansion Project in the ghost project. Is it to drill new gas wells to increase production?
The two types of natural gases known as Associated Gas, AG and Non Associated Gas, NAG are produced by the JV operators and not by the redundant subsidiary of NNPCL as the Nigerian Gas Company, NGC.
Everything about drilling and production of natural gas is done by the JV operators. What happened to the Nigerian gas flare commercialization programme, NGFCP, intended to convert the flared natural gas by the JV operators to commercial purposes?
It should be the JV operators that should be directed by the federal government to convert the flared gases for power generation, domestic industries and cooking by adequately funding the JV operations for any gas project in Nigeria.
The purpose of releasing money to companies that don’t operate any of the oil and gas assets is wasteful and unproductive.
“Nothing we no go see for Nigeria”.
This payment to some companies of whatever gas expansion program by CBN is another fraud by dubious NNPCL and CBN officials and collaborating companies.
Whatever money paid to these companies for this ghost Nigeria Gas Expansion Program should be refunded to CBN without delay and be used to fund the JV operators that are producing the natural gas. The purported Nigerian Gas Expansion Program is fake.
The Senate Committee On Gas should revoke this purported gas project without delay. What progress work does the Senate Committee on gas want, imaginary documents to justify the big payments? Nothing to show for it.
What expansion of gas projects are they doing? Are they drilling more Non Associated Gas, NAG, wells or what? What is the content of the supposed Nigeria Gas Expansion Project? It is not well intended as they have ulterior motives.
Zik Gbemre
November 30, 2023.
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