The Federal Government announced on Thursday that 139 investors have expressed readiness to monetize gas flares from the 48 flare sites across the country. This disclosure was made at the 2022 Nigerian Gas Flare Commercialisation Programme (NGFCP) Bidders Conference and Investors Forum, which was organized to inform all qualified applicants, partners, sponsors, and technology providers about the structure of the Request for Proposal (RFP) for the flare sites. The forum also offered guidance on upcoming activities and gave the government an opportunity to listen to and gather feedback from participants to optimise the RFP phase.
In his address, Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, congratulated the qualified applicants for their successful performance during the Statement of Qualification (SOQ) phase of the bid process and emphasized their capacity to monetize gas flares. He noted that the programme received over 300 applications, but only 139 were deemed qualified after an evaluation conducted in line with the published RFQ criteria. “Your success at the SOQ stage is no small feat,” he said, “but it is only the beginning. The real challenge lies in submitting a robust, competitive proposal with demonstrable capacity to deliver flare‑monetisation projects in accordance with the RFP terms.”
Komolafe described the programme as a defining moment in Nigeria’s oil and gas history, stating that the NGFCP “checks the box on many fronts.” He highlighted that, beyond mitigating the harmful environmental impacts of gas flaring, the programme also stops the waste of a valuable economic resource. In today’s carbon‑constrained world, where fossil fuels face growing scrutiny due to climate‑change concerns, natural gas has become an important bridging fuel for many oil‑producing nations.
Comments are closed for this story.