NNPC targets 600tcf gas reserves, 12bcf/d production by 2030

By Onu Okorie

Nigerian National Petroleum Company Limited NNPC Ltd. has unveiled an ambitious multi-pathway strategy to transform Nigeria into a global gas hub, targeting more than 600 trillion cubic feet tcf of gas resources and production of 12 billion standard cubic feet per day Bcf/d by 2030.
The company said the strategy would leverage Nigeria’s vast gas reserves to accelerate industrialisation, strengthen domestic energy security and expand the country’s footprint in international gas markets.
NNPC Ltd.’s Executive Vice President, Gas, Power and New Energy, Olalekan Ogunleye, disclosed the plan on Monday while speaking at the 2026 Gas Technology & Exhibition Conference (GASTECH) in Bangkok, Thailand.
Speaking on the panel, “The New LNG Order: Leadership Strategies for Energy Security and Growth,” Ogunleye said Nigeria could no longer afford to leave its abundant gas resources underdeveloped as geopolitical tensions, conflicts and supply disruptions continue to reshape the global energy market.
He said the company’s Gas Master Plan (GMP) was designed as a “gap-to-potential tool” for unlocking Nigeria’s enormous gas resources.
“Gas development and monetisation from Nigeria’s standpoint is a purely commercial play. NNPC Ltd. is implementing a Gas Master Plan engineered as a gap-to-potential tool to move Nigeria from a 215tcf reserves position to above 600tcf,” he said.
Nigeria currently has more than 215tcf of proven gas reserves, while the company is targeting national gas production of 10 Bcf/d by 2027, rising to 12 Bcf/d by 2030.
Ogunleye said the production targets were anchored on greater coordination across the gas value chain and supported by the Petroleum Industry Act (PIA), the Decade of Gas Framework and the Gas Master Plan.
LNG expansion
Beyond expanding domestic gas production, NNPC said Nigeria was positioned to significantly increase its participation in the global liquefied natural gas (LNG) market.
Ogunleye cited the Nigeria LNG project, whose Trains 1-6 currently have a combined production capacity of about 22 million tonnes per annum (MTPA) and have exported more than 6,000 LNG cargoes since commercial operations began in 1999.
He said the planned completion of Train 7 in 2027 would further strengthen Nigeria’s position in the increasingly competitive global LNG market.
According to him, Nigeria’s location also provides a strategic advantage because of its proximity to both the Atlantic Basin and Asian markets.
He said the combination of the country’s huge gas resource base, strategic location and renewed policy focus could enable Nigeria to emerge as a more influential player in the international gas economy.
No choice between exports, domestic use
The NNPC executive also dismissed the argument that Nigeria must choose between exporting gas and deploying it for domestic economic development.
Instead, he said the country was pursuing a dual pathway that would allow gas exports to generate foreign exchange while increased domestic utilisation would provide the energy required for industrialisation, job creation and improved energy security.
“The idea is not to choose between domestic utilisation and exports,” the strategy implies, as Nigeria can simultaneously monetise gas internationally and deploy it as a critical input for economic transformation at home.
Ogunleye said NNPC had also taken steps to de-risk new LNG investments through a strengthened legal and regulatory framework supported by fiscal incentives.
He, however, identified security, competitive gas pricing and assured gas supply as critical conditions for attracting long-term investment into Nigeria’s gas industry.
“With continued efforts towards stable security, competitive gas pricing and assured gas supply, there is no better time for investors and financiers to confidently participate in the development of Nigeria’s LNG projects,” he said.
The strategy places gas at the centre of Nigeria’s broader economic transformation agenda, with NNPC seeking to move the country beyond its traditional role as a supplier of hydrocarbons towards becoming a major gas-producing, processing and exporting hub.
If achieved, the 600tcf resource ambition and 12 Bcf/d production target would give Nigeria greater capacity to meet rising domestic energy demand while also expanding its share of the international LNG and wider gas market.
Sharpen the commercial investment angle