Thread by @BudgITng

DID YOU KNOW?

9.94% of the total gas produced in 2018 was flared away.

To end gas flaring, the @NGRSenate passed a Bill to prohibit gas flaring in Nigeria after the 3rd reading in April 2019 since 2nd reading in 2017.

Here's all you should know about the Bill.

#FixOurOil

Gas can only be flared in accordance with an Authorisation granted by the Minister.

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All data relating to the gas resources and flaring/venting of gas must be submitted to the Minister within six months.

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Operators must obtain authorisation from the Minister before establishing a Gas Facility in Nigeria.

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Operators that flares/vents gas as authorised shall pay a fee as prescribed by the Minister from time to time.

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Operators are expected to install metering equipment for measuring volume of flared gas on their facilities before the commencement of hydrocarbon production.

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Operators that flare gas without permission will pay a fine equal to 200% of the fee payable for every 1000 standard cubic feet of gas.

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All infrastructural projects undertaken to support gas flare out will be entitled to 5 years corporate tax exemption and other concessions as may be granted by the Federal Government.

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The powers conferred on the Minister by this Act may be exercised by any one duly authorized by the Minister to do so.

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The Minister's powers granted under this Act shall be reviewed and re- appraised after every two years.

#FixOurOil