Experts Urge Nigeria to Focus on Shale Gas

Stakeholders in Nigerian petroleum industry have urged the country’s government to re-position the nation’s oil and gas industry towards achieving high shale gas production, reports local newspaper The Nigerian Observer.

According to the newspaper, the move comes in the wake of increasing use of shale gas, especially by the U.S.

Alex Simon, Chief Coordinator, Prime-X Energy Ltd., Lagos, said that the recent call by OPEC to members not to ignore shale gas production also necessitated the call.

In a report published in November, news agency Reuters, citing an OPEC report, said the group could lose almost 8 percent of its oil market share in the next five years as the shale energy boom and other competing sources boost rival supply, offering the exporter group little benefit from rising world demand.

According to Simon, Nigeria does not need any warning from any quarters regarding the negative impact of shale oil and gas on the nation’s revenue, The Nigerian Observer added.

Folorunso Oginni, Chairman, Lagos Chapter of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), said that any neglect of shale gas could affect the economy.

Afe Mayowa, a former President of Nigerian Association of Petroleum Explorationists (NAPE), said development of shale gas could stall new LNG projects in Nigeria.

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