Speaking at the 2018 Buyers’ Forum/Stakeholders’ Engagement, organised by the Gas Aggregation Company of Nigeria on Monday in Abuja, Kachikwu said that the Federal Government had been locked in a battle with oil companies operating in the upstream sector over the issue of gas flaring.
He added that the government is keen on ending gas flaring, but oil companies still give a lot of reasons why gas flaring cannot be stopped.
According to local media reports on Tuesday, Kachikwu noted that the bottom line is money, but the reality is that whether or not we deal with cash call issues, it is not an optional agenda, it is a compulsive immediate agenda.
“It is destructive to the populace; it is intolerable in a developed country and it should not be tolerated here either,’’ he said
He said that any oil company that would not find a way to ending its flare ought not to be producing.
“And I have said to the Department of Petroleum Resources, beginning from next year, we are going to get quite frantic about this and companies that cannot meet with extended periods — the issue is not how much you pay in terms of fines for gas flaring, the issue is that you would not produce.
“We need to begin to look at foreclosing of licences. This is very urgent,” the minister said.