1 December 2011, Sweetcrude, OWERRI—Imo State Government has said it would soon unveil its Gas Masterplan, Phase 1, estimated to cost about $2 billion, covering 8 years investment span.
Governor Rochas Okorocha stated this during Imo International Gas Round table with the theme, “Gas to Wealth”, held at 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 investors, facilitate their licences and permits and provide incentives and security to them.
He said the roundtable offered a platform for deliberating on 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 had a gas reserve in excess of 7.8 trillion cubic feet which is strategically deposited at Oguta, Ohaji/Egbema and part of Owerri Municipal.
He said the present administration was committed to not only reducing gas flaring but ensured 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 was 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 and 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 would be pushed faster rather than the hitherto bureaucratic bottlenecks that frustrate businesses.