Nigeria Ramps up LPG Access -Gladius Commodities of Lagos, Nigeria

The weekly Market Report is provided by Gladius Commodities of Lagos, Nigeria.

NIGERIA

Group Managing Director of the Nigerian National Petroleum Corporation Alhaji Mele Kolo Kyari disclosed the Federal Government’s plan to expand access to Liquefied Petroleum Gas (LPG), or cooking gas, for rural dwellers to replace charcoal and firewood for cooking.

Kyari spoke at the virtual Atlantic Council’s Global Energy Forum, stating that Nigeria’s domestic consumption of LPG exceeded one million metric tons (MT) in 2020, a substantial rise compared to the 50,000 MT of consumption in 2007. He further stated that the country is witnessing increased domestic gas demand in the industrial and power sectors, leading to increased production and reduced gas flaring, as well as an increase in household access to gas networks and LPG in the main cities.

As a result, the next initiative is to expand access to rural areas. The Federal Government is making conscious efforts to deepen domestic gas consumption through use of Compressed Natural Gas and LPG.

The Minister of State for Petroleum Resources H.E. Timipre Sylva postponed the 2021 edition of the Nigerian International Petroleum Summit to June 6-10, 2021, which was originally scheduled for March 2021. He announced the new dates during a special broadcast program published on the Ministry’s social media platforms and noted the current global pandemic as the impetus for the change. Under the theme, “From Crisis to Opportunities: New Approaches to the Future of Hydrocarbons,” the Summit aims to chart the way forward for Africa’s oil and gas industry in the post-COVID-19 pandemic era.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.