Gas flaring cost Nigeria $16tn in 10 years – Report
A recent report has shown that the Federal Government has lost an estimated $16tn to natural gas flaring in 10 years.
The report by the Energy Institute was released in conjunction with KPMG, KEARNEY and Heriot-Watt University
The institute’s 72nd edition of the ‘Statistical Review of World Energy 2023’ said the amount was lost from 2012 to 2022.
A breakdown of the statistics showed that upstream and downstream oil and gas firms operating in the country flared the highest amount of gas in 2012, estimated at 12.9 billion cubic metres of natural gas, 9.2 billion cubic metres in 2013, 8.3 billion in 2014, and 7.5 billion cubic metres in 2015.
The summation of gas flared by the country in the 10 years under review arrived at an estimated 86.5 billion cubic metres.
Gas flaring cost Nigeria $16tn in 10 years – Report
A recent report has shown that the Federal Government has lost an estimated $16tn to natural gas flaring in 10 years.
The report by the Energy Institute was released in conjunction with KPMG, KEARNEY and Heriot-Watt University
The institute’s 72nd edition of the ‘Statistical Review of World Energy 2023’ said the amount was lost from 2012 to 2022.
A breakdown of the statistics showed that upstream and downstream oil and gas firms operating in the country flared the highest amount of gas in 2012, estimated at 12.9 billion cubic metres of natural gas, 9.2 billion cubic metres in 2013, 8.3 billion in 2014, and 7.5 billion cubic metres in 2015.
The summation of gas flared by the country in the 10 years under review arrived at an estimated 86.5 billion cubic metres.
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