Imo State Government to unveil Gas Masterplan, Phase 1

Imo state government would soon unveil its Gas Masterplan, Phase 1, estimated to cost about $2billion covering 8 years investment span.

The state Governor, Owelle Rochas Okorocha, stated this in an address on the occasion of the Imo International Gas Roundtable with the theme ‘Gas to Wealth’, held at the Concorde Hotel, Owerri.

Represented by his Deputy, Sir. Jude Agbaso, the governor recalled that in his previous meeting with oil and gas operators, he had pledged to offer free site and certificate of occupancy to potential invest ors, facilitate their licenses and permits and provide incentives and security to them.

He said that the roundtable offered a platform for deliberating and formulating appropriate gas policies that would ensure enhanced investments, generate employment opportunities, stimulate Imo state economy and attract foreign investors.

The state Commissioner for Petroleum and Environment, Steve Ahaneku, disclosed that Imo state has a gas reserve in excess of 7.8 trillionscuffs which is strategically deposited in Oguta, Ohaji/Egbema and  part of Owerri Municipal.

He stressed that the present administration is committed to not only reducing gas flares but ensuring that private/public initiatives geared towards the reduction and elimination of flaring would add economic benefits to all communities in the state.

Chief Ahaneku further stated that when the gas resource is further utilized, it would generate products such as electric power, fertilizer, gas-to-liquid, vehicle fuels among others.

Chairman of the occasion, Mr. Anthony Eze, noted that the roundtable would provide the opportunity to review gas reserve in the state as a catalyst to its utilization as a feedstock to profitable products.

He enjoined the state government to make enabling laws through the House of Assembly so that investments in gas would be protected and assisted to grow.

Mr. Eze also called on the state government to approve a proposal for a firm protocol arrangement where memoranda are pushed faster rather than the hitherto bureaucratic bottlenecks that frustrate businesses.

Modestus Okafor

For: SSA to the Governor (Media)

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