Business & Economy - March 29, 2021

How Nigeria’s gas will add value to new world energy order – Kyari

As the world transits to cleaner energy, Nigeria is prepared to play a significant strategic role in the emerging new global energy order, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said.
Speaking at the “Decade of Gas Pre-summit Conference” on Monday in Abuja, on the theme: “Towards Gas-Powered Economy by 2030”, Kyari said Nigeria is committed to adding value to the new world energy order. 
Welcoming participants to the event, Kyari said technology and innovation were facilitating a new global energy order aimed at decarbonizing the world and safeguarding the climate.
Under the new order, he said renewable energy sources, such as solar, wind and biomass would be key components of the new energy mix largely influenced by seasons and were non-transportable to demand centres where they are in short supply.
Under the current global order, he said Nigeria would be relied upon to add value through the harnessing and supply of its huge endowment of natural gas resources, and by extension blue hydrogen, as transition fuels in the drive to achieve clean energy.
Natural gas would play a significant role in the global energy mix as well as guarantee feedstock to gas-based industries.
“Nigeria, under the visionary leadership of President Muhammadu Buhari, has committed huge resources to ensure that domestic gas infrastructure reach every corner of our country to deepen natural gas utilization, spur investment in power and gas-based industries, grow the economy and generate employment for millions of our young people,” Kyari said.
As a gas nation endowed with over 203 trillion standard cubic feet (tscf) of proven gas reserves of natural gas, he said Nigeria is monetizing the huge gas resources spurred by numerous policy and industry interventions since 2016.
These programmes, the NNPC GMD said, have culminated in the declaration of 2020 as the year of gas and progressing into the decade of gas from 2021.
Kyari said the NNPC and its partners have embarked on a number of strategic projects in the oil and gas industry to deepen delivery of gas to the domestic market and elevate the build-up of greater potentials for export.
“The completion of the Escravos-Lagos Pipeline System Phase 2 (ELPS II), commissioning of the Obiafu-Obrikom-Oben (OB3) Lot 2, the Nigerian Petroleum Development Company (NPDC) Oredo Gas Handling Facility, and the Sterling Oil Exploration & Energy Production Co. Limited (SEEPCO) Gas Processing Plant can be easily cited, even without mentioning ongoing strategic backbone gas infrastructure projects, such as the Ajaokuta-Kaduna-Kano (AKK) pipeline, the OB3 final hook-up, the Nigeria-Morroco pipeline and several other gas-based industries initiatives.  All these will herald the sunrise of gas revolution in our country within the decade,” the GMD said.
As part of the journey to make the Decade of Gas a reality, he said the Federal Government has also rolled out the autogas initiative to provide alternative cleaner and cheaper transportation fuel to petrol.
The initiative, he said, has received huge support from the entire energy industry and gained tremendous traction all over the world.
Kyari lauded President Muhammadu Buhari for his strategic foresight, leadership and support for the oil and gas industry, saying the various strategic initiatives were geared towards transforming Nigeria’s energy landscape.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

PIB: Lawmaker cautions against incitement over Niger Delta host communities trust fund

MEDIATRACNET With the harmonized draft Petroleum Industry Bill (PIB) awaiting President Mu…