Energy Ventures BV Launches Flared Gas Conversion Project

Energy Ventures BV, led by Chief Executive Officer Herbert Okibe, has begun efforts to convert approximately five million standard cubic feet of flared gas per day into electricity and liquefied petroleum gas (LPG) in Rivers State. This initiative is aimed at transforming environmental waste into sustainable energy, particularly for communities that have been underserved.

Okibe noted that this project represents only a small fraction of the gas wasted through flaring in Nigeria, which ranks as the seventh highest gas flaring country globally. He emphasized the potential of harnessing flared gas to power the entire continent of Africa.

The project has received backing from both the Dutch and Nigerian governments, with regulatory approvals progressing. The Port Harcourt Electricity Distribution Company has permitted Energy Ventures BV to seek an electricity-generation permit from the Nigerian Electricity Regulatory Commission.

The project is expected to require tens of millions of dollars in investment, with funding anticipated from both private and public sources, including the Dutch government and Nigeria’s Midstream and Downstream Gas Infrastructure Fund.