Reps pass bill for the establishments of gas processing, marketing board

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Reps pass bill for the establishments of gas processing, marketing board

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The Nigerian House of Representatives has passed for second reading, a bill to establish the Nigerian gas processing and marketing regulatory board.
Nigerian House of Representatives

Nigerian House of Representatives

The bill seeks to empower the Board on monitoring operational regulations and management of strategic gas pipelines and supply networks; in order to formulate and implement all policies aimed at ensuring safety and security of gas processing, transportation and distribution.It also seeks to regulate the prices charged for downstream gas, distribution, supply and sale of gas to foreign importers through granting domestic downstream licences for construction and operation of processing plants for gas liquefaction, undertaking the supply of natural gas, owning and running the natural gas processing as well as retail facilities.Sponsor of the bill, Mr. Agbedi Frederick from Bayelsa State while presenting his argument said the Board when established will ensure gainful harvesting of enormous gas resources.Mr. Frederick explained that the creation of the regulatory agency that will be responsible for the supervision and control of the downstream activities of gas marketing and utilisation will provide Nigeria with maximum benefits from the evolving gas sub-sector of the Nigerian economy.“Effective gas development is a string catalyst for economic growth which promises a multiplier effect on the Nigerian economy. As Nigeria is entering into the gas era, the need for a clear legal framework to guide gas exploration, exploitation and utilisation becomes abundantly prominent and that brings us to the basis for the bill under consideration.”Â Mr. Frederick explained.On his part, Diri Douye also from Bayelsa State decried the level of environmental degradation of the oil producing communities across the Niger Delta, stressing the need to provide legal framework that will regulate gas exploration in the country.Mr. Douye said “There’s gas all over the Niger Delta and Lagos, and if we leave it like crude oil over the years we will be looking at lot of income, and we are also going to lose the domestication of its usage.”He noted that the agency when established will help in promoting gas utilisation by Nigerian households in other climes.Members were unanimous in  expressing optimism that gas resources has huge potential of crude oil, and  stressed the need for the amendment of the existing Act on associated gas with the view to address the challenges of gas flaring which contributes to loss of huge foreign exchange.The lawmakers gave assurance that the agency will help to curb wastage of resources endowed in gas production, stressing that there is so much demand for utilisation of gas across the world especially for power generation.  

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