WHAT WE DO
On behalf of the FGN, the NGFCP seeks to attract investments and develop a transparent market mechanism through a competitive procurement process for allocating gas flares.
At its core, the NGFCP will:
- Develop a robust framework that balances project needs and oil and gas producer concerns;
- Introduce a rigorous screening process and ensure that flare gas buyers meet the commercial and technical evaluation criteria to implement their flare down projects;
- Ensure oil and gas producers provide accurate flare site data; and
- Incentivise oil and gas producers, investors and government to support flare gas capture projects; and
- Monitor and supervise all flare-out projects
To ensure the success of the NGFCP, we will:
- Demonstrate that the programme is not a threat to upstream producers’ businesses, but rather it is complementary;
- Identify and embed international best practices, policies and frameworks into Programme DNA;
- Design a robust programme that demonstrates strong business cases and consistency with the Paris Climate Agreement ;
- Explore for third party funding through development banks, green climate funds, climate funds etc; and
- Position the programme as a ‘win-win’ for all stakeholders.