Nigeria's Push to Monetize Gas and Cut Flaring Sparks Major Deals

Nigeria's Heirs Energies and NNPC have teamed up with five investors to capture and monetize otherwise flared gas, aiming to boost supply while cutting emissions. Despite challenges like flaring increasing recently, Nigeria advances its 'Decade of Gas' policy to drive industrial growth and expand LNG exports.

Nigeria is making strides in its efforts to capture and monetize gas that has traditionally been wasted through flaring. On Wednesday, Heirs Energies and state oil firm NNPC signed agreements with five investors to tackle the issue, tapping into Africa's largest proven gas reserves.

The initiative is part of Nigeria's 'Decade of Gas' policy, a strategic plan to drive industrial growth while reducing emissions. Despite the recent World Bank data showing a 12% increase in flaring in 2024, Nigerian operators are determined to cut greenhouse gas emissions and increase domestic gas supply through these new deals.

Challenges remain, however, including infrastructure gaps and weak regulatory enforcement. Nevertheless, ongoing projects like the one launched by Renaissance Africa Energy aim to make a significant impact by gathering associated gas and integrating it into Nigeria's energy infrastructure.