GAS AND INVESTMENT DEPARTMENT
Director: Peter Inok Inyabri
The Department has the following functions:
- Promote continuous advocacy on investment in the gas sector of the Nigerian Economy.
- Collaborate with NNPC and its Joint Venture Contract (JVC) partners on the cost of Gas production.
- Generate data on Gas production and types of gases, either associated or non-associated, offshore or onshore.
- Review government policies on gas flaring and advise as appropriate.
- Segregate the types of gas or gases that can contribute to the Federation Account and ascertain if it indeed does contribute.
- Determine accurately the locations of such productions and hence define the beneficiary community, the Local Government and the State where such gas is being produced. Pass such data to the Allocation Department.
- Continuously monitor any disruptions in gas production for any reason either technical or community disturbances.
- Ascertain gas metering systems, its efficiency and fairness in maximizing derivable revenue to the Federation Account.
- Maintain an up-to-date and computerized data on gas production.
- Pay special monitoring attention to the development and production of Liquefied Natural Gas (LNG) and in this regard verify the LNG financing policies, sources and returns.
- Generally deal with any matter concerning the transparency of gas production, sales and returns to the country such as to maximize the benefit of Nigeria’s investment returns in the gas sector.
- Ensure that all crude oil and gas agreements follow due process of public scrutiny by all stakeholders.
- Demand for and obtain all agreements in the oil and gas sectors of the economy and very closely, study and analyze them to ensure fairness to the Federation with particular reference to:
- Memorandum of Understanding (MOU)
- Joint Operating Agreement (JOA)
- Production Sharing Contract (PSC) agreements and payment terms
- Joint Venture Cash Calls (JVCC)
- Sole Risk Contracts (SRC)
- LNG agreements and payments
- Determine the fairness and transparency of the cost items constituting the JVCC such that Nigeria does not pay for all costs incurred in JV operations and to examine and justify all such budgets that involve payments to be made by the beneficiaries of the Federation Account.
- Obtain data on export crude oil lifting contract policies and payment terms; quantities, type and destination.
- Obtain data on domestic crude oil quantity, pricing, distribution to domestic refineries and use of quantities not refined.
- Provide advice and counsel to the Board of the Nigerian Sovereign Investment Authority (NSIA) having regards to its objectives and activities.
- Prepare Departmental annual report and submission of same to the Planning, Research and Statistics Department on or before end of first quarter of the following year.
- Provide administrative, technical and professional support to the Gas Monitoring Committee (GMC) and Investment Committee (IC).
- Perform other duties/functions that may be assigned by the Chairman or Commission.