Country Chair of Shell in Nigeria, Basil Omiyi, has noted that Nigeria needs to use its abundant natural gas resources to grow its energy base.

Omiyi stated this during the Pan-African International Gas Conference in Abuja on Thursday.

He believes that developing the gas sector would help the country meet its growing domestic demand for energy and also generate export revenues that could be used to drive development locally.

According to him, "Nigeria is well positioned to continue to play an important role as gas supplier to the regional and international markets and huge investment and the right commercial framework will be required to actualise these aspirations.

"We also know that much of the world's gas is stranded in parts of North Africa, the Middle East and sub-Saharan Africa, far from the market centres of Asia, Europe and the USA.

"Liquefied Natural Gas, LNG, has proven a viable means of reaching these markets consequently trading in LNG has grown dramatically since 2008," he said.

While noting that there was still considerable potentials for additional greenfield development in the country, he disclosed that "there are plans to expand the NLNG".
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Omiyi assured that Shell was committed to ending gas flaring in Nigeria, explaining that the oil giant does not embark on any new project without taking into consideration the economic value of gas.

He lamented that despite generating over 80 per cent of industrial gas used in Nigeria, the company makes little or no money from gas.

He said for the country to attract investment into the sector, there was the need to develop framework that recompense investors.

He stated further that by the end of the year the company would have enough gas to meet the 6n000mw of electricity needs of the country if all its gas was channeled solely to the power sector.