Seplat: To end gas flaring in Nigeria in 5 years
Oil manufacturer Seplat has expected the gas flaring in Nigeria to be halted prior 2020, reported Ventures Africa. Seplat is the first listed operator in the Nigerian bourse. The gas company said that they had been aiming to end the flaring in Nigeria. Seplat also said that it has seen the local market to be more profitable.
Operators in the country has been against the conservation and processing of gas for local use. This is because the method was very expensive and is not attractive for the oil and gas industry. This has caused operators to campaign against stopping if not reducing the amount of gas flare in Nigeria as the practice has cause a lack for consumer consumption.
Meanwhile, the privatization of the power industry in Nigeria has directed operators to reconsider gas flaring as the increasing demand for available gas is displayed.
On the other hand, Seplat announced that it has funded an expansion in its gas holding capacity valued USD100 million. The company also said that it looks at September to completely stop its gas flaring activities. Seplat burns more than 26 million cubic feet of gas annually.
Seplat’s Austin Avuru said, “The company is investing about $100 million to more than double its annual gas handling capacity to about 280 million cubic feet by 2015.”