Gas to Power: Energy Security and Sustainability Under the Petroleum Industry Act, 2021

Abstract

. Nigeria generates 77% of its electricity from natural gas and has abundant reserves of natural gas estimated at 5,675 billion cubic meters. Despite these, 45% of Nigerians do not have access to electricity and supply is unreliable. Unavailability of electricity limits living standards and economic growth. The paper examined how the PIA is structured to deliver security of natural gas supply to the electricity industry sustainably given concerns over global warming and climate change precipitated by Greenhouse Gas emissions from burning fossil fuels. Data for this study was collected from statutes including the Petroleum Industry Act, 2021(PIA) and other sources, using the doctrinal method. The paper concluded that the PIA has a robust framework for achieving the security of natural gas supply but prioritised the availability of gas over sustainability.  The paper recommended limitation of subsidy on electricity to fund gas supply and an immediate proscription of gas flaring.