Page 17 - AfrOil Week 46

AfrOil PERFORMANCE AfrOil

Expanding LPG consumption will also bene- would help Nigeria make the best use of its vast
fit the Nigerian economy by creating new jobs natural and associated gas resources. He noted
and responding to the challenges posed by the that Nigeria’s federal government has already
coronavirus (COVID-19) pandemic, the NLNG dubbed 2020 the “Year of Gas” but urged offi-
chief claimed. Additionally, it will put the coun- cials in Abuja to do more, saying that intensive
try in a position to play a key role in the global gasification programmes had the potential to
transition to cleaner fuels, he said. transform the Nigerian economy within the
Attah went on to say that the rise in LPG use next 10 years. ™

POLICY
Nigeria shifts target date for

passage of PIB back to March 2021

LIBYA NIGERIAN President Muhammadu Buhari [will] go through the committee stages by the
has been pushing the National Assembly to pass first quarter of next year and pass it into law.”
the long-delayed Petroleum Industry Bill (PIB) He also noted that the National Assembly
before year-end, but his administration has now would have to hold public hearings on the PIB
altered its deadline. before it could be signed and passed into law. It
According to Timipre Sylva, the country’s is not yet clear exactly when those hearings will
Minister of State for Petroleum Resources, the take place, but Sylva said he did not expect them
government is now prepared to move its target to lead to further delays.
date back to the end of March. He called this a He also emphasised the importance of the
realistic deadline, saying that Abuja had a good PIB for Nigeria’s economic prospects. “There
chance of securing the passage of the law before is no better way of diversifying the country’s
the end of the first quarter of 2021. economy than through a well-developed oil
“I am not saying categorically and conclu- and gas industry, particularly with the huge gas
sively that the PIB will be passed then. But what resources in Nigeria,” he said. “So this will be the
I am saying is that from the pace of work we most credible attempt towards a holistic diversi-
can see the National Assembly working so far, fication of the Nigerian economy. That is why it
everything being equal, we are projecting that is very important for all stakeholders to see that
the PIB will be passed [at the] latest by the first the PIB is passed as soon as possible.”
quarter of 2021,” Sylva told the Premium Times
newspaper.
The upper and lower chambers of the
National Assembly are slated to enter into the
next phase of the legislative process very soon,
he added. “The PIB is out of the executive’s hand
right now,” he remarked. “We completed our
own part by drafting the bill. It is currently with
the National Assembly. The [legislation] has
already passed the second reading in the Senate.
They have sent the draft to the relevant commit-
tees for consideration. The House of Represent-
atives [will] take [it] from there and look at it
next week. We are expecting that both chambers Sylva expects the PIB to pass by the end of Q1-2021 (Photo: The Trent)

PROJECTS & COMPANIES
BP, Kosmos scale back GTA expansion

MAURITANIA/SENEGAL BP and its partner Kosmos Energy have scaled November 9.
back expansion plans at the Greater Tortue The project’s second phase was expected to
Ahmeyim (GTA) LNG project off Senegal and raise its liquefaction capacity from 2.5mn tonne
Mauritania, the latter company announced on per year to 10mn tpy.

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