Nigeria lost over $850 million to gas flaring in 2015 – DPR

The Department of Petroleum Resources (DPR) said that Nigeria, the ninth largest gas producing nation in the world, lost over 850 million dollars to gas flaring in 2015.

DPR Deputy Director, Pat Maseli, revealed that the development led to a loss of 3,500 megawatts of electricity generation and about 400 million dollars carbon credit value emission.

She said that with almost 8 billion cubic meters of gas flared annually, according to satellite data, Nigeria had the seventh largest gas flaring in the world.

Maseli added that prior to now, there were no gas terms in place, but the department had recently developed policies on gas terms and utilisation.

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