By Ann Godwin
Port Harcourt — An indigenous oil company in Niger Delta region, Belema Oil, has assured stakeholders that measures are now in place to end gas glaring by 2019. The firm disclosed that, already, a team of experts have been set up to turn the gas that are presently flared to revenue and business value.
The Managing Director of the firm, Boma Brown, who said this Monday, in Port Harcourt, Rivers State, during a stakeholders' meeting, also said engagement with companies that would assist in achieving the end to gas flare is on.
Brown said when the gas is converted into business value and as well align with environmental issues, it becomes a stronger value proposition for investors.
He said: "there are series of projects that are on towards achieving the target, they are already in the concept stage but that is purely our business model, and we are on to get the commercial frame work to make sure that the end customer picks up the gas.
"The intention is basically to convert gas to power, but then the challenge is the evacuation of that power and the host communities are there; we can give them but they cannot take the volume of power to be generated.
"There are several projects on how to channel the gas, but basically, power is the one that can give maximum benefit, we are going to do other industrial projects with it, but most importantly is to power our communities "
The Managing Director, however called for the deregulation of the power sector to create room for more investments. He said: "It is not as if government is not committed in tackling the gas flare, government is, but we can do better, power has not been deregulated, if it is deregulated and a proper market is brought into focus, investment will come in.
"You can recall that immediately the telecommunication industry was deregulated, investors came in to the country, so we have to use the market force. "So, by 2019, we are ready to stop gas flaring, we have all it takes to achieve the target, and we are on it," he assured.