As the Federal government makes effort to utilise gas and curb gas flaring, a recent report by the National Oil Spill Detection and Response Agency (NOSDRA) shows that oil and gas companies operating in the country flared 222.8 billion standard cubic feet (bscf) of gas from January to June 2020.
The gas flare tracker report shows that majority of the flares were from onshore oil and gas sites, which accounted for 60.95 per cent of total gas flared, while offshore sites accounted for 39.05 per cent of the total.
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Specifically, the report noted that 135.8 billion standard cubic feet of gas was flared on the onshore sites in the six months period, while 87 billion standard cubic feet of gas was flared offshore, while also noting that the fine accruable to the country from the flaring of 222.8 billion SCF of gas stood at $445.7 million.
Stating the impact of the flares to the environment, the report further stated that the volume of gas flared in the six-month period is an equivalent of 11.8 million tonnes of carbon dioxide (CO2) emissions, and is capable of generating 22,300 Gigawatts-Hour (GWH) of electricity.
Giving a breakdown of the figure, the report stated that the 135.8 billion SCF of gas flared onshore, is valued at $475.5 million, an equivalent of N171.18 billion; would fetch a penalty of $271.7 million, an equivalent of N97.81 billion; translated to 7.2 million tonnes of CO2 emissions and capable of generating 13,600 GWH electricity.
By Joy Obakeye, Daily Times