Taylor: Nigeria can learn from India’s gas infrastructure expansion

Nigeria's gas sector is gaining momentum, with industry experts like Paul Eardley-Taylor, the gas sector lead at Standard Bank, touting natural gas as not just a transition fuel but a key destination fuel for Nigeria's energy future. Eardley-Taylor highlights the significant opportunities that lie in Nigeria's gas infrastructure development, drawing parallels to India's rapid pipeline expansion and the economic potential it unlocked. With Nigeria producing approximately 8 billion cubic feet of natural gas daily, expanding its LNG exports, and growing its piped gas network, the country stands at the cusp of a transformative period in harnessing its gas resources for both domestic utilization and exports. One of the key points emphasized by Eardley-Taylor is the abundance of oil and gas resources in Nigeria, with current production levels hovering around 1.6 million barrels per day. The associated gas produced as a byproduct of oil extraction is a valuable asset that can further bolster Nigeria's position as a key player in the global gas market. Additionally, the growth of small scale LNG or mini LNG in the country has opened up new avenues to supply customers who are not connected to traditional gas pipelines, diversifying the market and expanding access to clean energy sources. Another crucial aspect highlighted is the expansion of Nigeria's pipeline network, a vital infrastructure component that can significantly enhance the role of gas within the Nigerian economy. Drawing inspiration from the rapid pipeline development in India, where 7,000 kilometers of pipelines were constructed in just four years, Eardley-Taylor underscores the transformative impact such infrastructure projects can have on unlocking Nigeria's gas potential and driving economic growth. Furthermore, Eardley-Taylor commends the Nigerian government's efforts in prioritizing gas and implementing policies and regulations to support the growth of the sector. Although acknowledging that more work needs to be done, particularly in fostering public-private partnerships to accelerate gas infrastructure development, he expresses confidence in the government's commitment to realizing the 'decade of gas' vision. By leveraging the expertise and resources of institutions like Standard Bank and Stanbic IBTC, Nigeria is poised to attract investments and propel the gas sector forward. In terms of financing gas projects in the African markets, Standard Bank positions itself as a key player, offering a range of services including advice, funding, capital markets activities, and banking solutions across its network. With a strategic focus on Nigeria's gas sector, the bank is gearing up to make significant investments in the country's gas projects in the coming years, aligning its initiatives with the broader vision of unlocking Nigeria's gas potential and driving economic development. As Nigeria embarks on its journey towards maximizing its gas resources, stakeholders, investors, and policymakers play a pivotal role in shaping the future trajectory of the gas sector. The spotlight is now on Nigeria to harness its natural gas abundance, capitalize on its comparative advantages, and pave the way for a sustainable energy future fueled by clean and efficient natural gas.