Modeling and Forecasting Natural Gas Production in Nigeria

This paper examined the future outlook of natural gas production in Nigeria. The Modified Hubbert model was used to Model and forecast Nigeria natural gas production up to 2035. Interestingly, the model put into consideration several parameters like the annual gas production in billion barrels for year t, the Peak gas production (PM), the total aggregated gas price at peak (GP), the year of the peak production (tm), the actual production (Pact), the calculated production (Pcal), and K ≤ 1 was a constant, b was the slope of the cure in the model. It was observed that the total gas production forecasted for 2035 was 0.04bscf of gas. This is an indication that natural gas production will not be able to meet up the demand of natural gas by various sector in 2035, if drastic measures are not been put in place to avert the situation. Based on this finding, the paper recommended that government should embark on aggressive gas exploration activities and to encourage active players in gas sector in order to enhance natural gas production and demand for sustainable development in Nigeria.