Natural Gas is an abundantly available Natural Resource which is historically being flared in Nigeria. This Natural Gas can be utilized for providing economical energy solution for multiple applications. It can be transported to Industries for thermal and power applications. It can be compressed to 250 Bar to fuel vehicles at economical rates, it can be connected to homes to be utilized as a cooking fuel and it can also be utilized by commercial customers for power, cooking and other applications.
Benefits of Natural Gas
Natural Gas is abundantly available Natural Resource in Nigeria and it does not require expensive refining. It provides multiple benefits to Government as well as its customers. Few of the benefits of using Natural Gas are –
- Compressed Natural Gas (CNG) is cheaper by approximately 50 % from Petrol. Thus, customers can save half of their transportation cost and utilize the savings for better living.
- It does not require importing from other Nations as it is abundantly available in Nigeria. Thereby, saving precious foreign currency for the Nation.
- CNG replaces petrol as a fuel, thus, it saves subsidy given by FGN on sale of Petrol.
- Natural Gas being cheaper energy source makes manufacturing sector more competitive and supports in developing Industrial hubs.
- Natural Gas is a greener fuel and thus, it helps in keeping the environment clean.
Utilization of Natural Gas by Industrial, Commercial, Automobile and Domestic sectors can help the Nation in becoming globally competitive economy.
Benefit of Natural Gas to Automobile Customers
CNG gives immense benefits to the customers using this alternative fuel in his vehicle. At existing selling price of CNG at Naira 55 per SCM and subsidized price of PMS at Naira 97 per liter, customer saves 46 % on his per Km running cost.