The Nigerian National Petroleum Company Limited (NNPCL), on Friday, March 27, said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet (tcf) to about 600 tcf.
The NNPCL also noted that it is working to fulfil its mandate of attracting about $60 billion in investments into the gas sector.
This was disclosed by the NNPCL’s executive vice president, gas, power and new energy, Olalekan Ogunleye, at the CERAWeek Energy Conference organised by S&P Global in Houston, according to a statement posted on X social media platform by the company.
Ogunleye reiterated that Nigeria is well-positioned to play a more significant role in global Liquefied Natural Gas (LNG) and gas-based industry supply, given its strategic geographical location within the global gas market.
At a panel session themed “The New Gas Order: Market Depth and the Reshaping of Global Trade,” he stated that the current Strait of Hormuz shipping constraints, arising from tensions involving the United States (US), Israel, and Iran, have further highlighted Nigeria’s unique position as a major LNG and gas-based industries supplier due to its abundant gas resources and proximity to key markets.
“He further clarified that the key deliverables of the NNPC Gas Master Plan include providing commercial incentives for gas exploration and development to grow Nigeria’s validated reserves from 210.5 tcf to an estimated potential of approximately 600 tcf.
“This also includes exceeding the federal government’s mandate to increase gas production volumes by 4.6 billion cubic feet per day (bcfd), representing a 62 per cent rise between the end of 2025 and 2030, to 12 bcfd from the current 7.4 bcfd, as well as attracting $60 billion in additional gas sector investments.”
He added that the plan is neither aspirational nor theoretical, noting that its key strength lies in disciplined execution of annual work plans to ensure that gas development targets are not only met but surpassed, in line with the presidential gas production growth mandate.
The NNPCL recently stated that Nigeria is experiencing stronger demand for its LNG cargoes.
Ogunleye noted that energy disruptions linked to geopolitical tensions in the Middle East have created new commercial opportunities for the country.
He added that demand for natural gas has remained resilient, stressing that current geopolitical tensions are unlikely to derail its growth.
Earlier this year, the NNPCL unveiled its Gas Master Plan 2026, targeting 10 billion cubic feet per day (bcfd) of gas production to drive industrialisation and strengthen Nigeria’s energy security.
The plan was launched at the NNPC Towers in Abuja, according to a statement issued by the company’s chief corporate communications officer, Andy Odeh.
The initiative signals a renewed push by the federal government and industry stakeholders to translate Nigeria’s vast gas resources into economic value through disciplined execution, infrastructure development, and market expansion.
The Gas Master Plan 2026 represents a strategic shift from policy formulation to execution across Nigeria’s gas value chain.
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