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Seven Energy has pledged to co-operate and strengthen ties with Nigerian Gas Association (NGA) on shared objectives of focussing on domestic gas supply to support the socio-economic development of Nigeria. Seven Energy’s chief operating officer, Jeff Corey, disclosed this during a courtesy visit by the executive council members of the association to the company’s corporate office in Lagos.
“We have many shared objectives. Whilst we have interests in some oil operations, Seven Energy’s focus remains domestic gas and our gas operations are integrated from production, processing, transport to sales,” said Corey.
Corey said that gas infrastructure, one of the areas of focus for Seven Energy, is highly needed in Nigeria, and success can be accomplished in this area through attracting international funding along with government funding.
While acknowledging that attracting infrastructure funds to Nigeria is not always easy, he pointed out that Seven Energy has been successful in raising capital including private equity investment for Nigerian gas infrastructure development, which is key to unlocking the nation’s gas resources.
Corey also called on the NGA to direct its advocacy towards the development of new gas basins such as the Anambra basin, an under-explored area with some undeveloped gas deposits. He said, “Seven Energy has a position in the Anambra basin where there is significant scope for development of a gas market for power and industrial consumption; in order to achieve this, policy support and incentives are required to encourage the development of gas resources and associated infrastructure. This basin will open a whole new area to have gas supply for power and industrial use.”
Bolaji Osunsanya, President, NGA in his remarks congratulated Seven Energy for its accomplishments in the gas sector especially for “showing a new business model for the gas sector.”
Osunsanya said that NGA is a broad based association that pushes sector critical issues to stakeholders in a non-partisan way that is devoid of self-interest. Amongst the critical issues that the association is currently canvasing include positioning gas as the new resource pride for Nigeria, shoring up gas reserves and re-visiting the Nigerian Gas Masterplan.
“The issues we put on the table as at 2008 for the gas master plan all require revisiting; be it fiscal terms, regulation, pricing or tax terms. For us as an association, that will be the challenge going forward,” Osunsanya said.
Osunsanya called on Seven Energy to participate fully in the forth-coming bi-annual international gas conference in Nigeria organised by the association, which he termed as the “biggest gas gathering in Africa”.
