Panel Session II
Natural Gas Supply Gaps - Can the regulatory framework alone solve the problem?
Nigeria is a gas province; however the resource has remained largely undeveloped. The bulk of which is flared. One major constraint is absence of a robust Legal and Regulatory framework that will enable Gas based industrialization. Natural gas is gradually getting a larger share of the global energy mix. Understanding the current and future legal framework required for Gas Industrialization in Nigeria is paramount.
There is inadequate infrastructure across the value chain, such as production, processing facilities, pipeline, power generation, transmission and distribution. Current prices rarely support cost of infrastructure, uncompetitive pricing and fiscals hinder the much needed investment to pursue power agenda.
Nigeria’s domestic gas market has significant potential, what is required is a stable regulatory, competitive fiscal regime. A regime that supports private sector infrastructure development mainly, a willing buyer, willing seller approach.
The key issue for deliberation is does addressing the regulatory framework alone lead us to the “Promised Land”.