The Nigerian Association of Petroleum Explorationists (NAPE) says it will render its expert contribution to the actualisation of the Federal Government’s plan to utilise gas as Nigeria’s energy transition fuel.
Mrs Patricia Ochogbu, President, NAPE, made this known while speaking at the association’s 2021 Pre-Conference Workshop on Monday in Lagos.
The News Agency of Nigeria (NAN) reports that the workshop had as its theme: ” The Next Decade of Oil and Gas Business in Nigeria: Impact of Energy Transition”.
Ochogbu noted that there was a global push for energy transition to cleaner sources of energy to mitigate the effects of climate change.
She said the Nigerian government had declared the period 2021-2030, ‘The Decade of Gas”.
According to her, this initiative is designed to transform Nigeria into one of the world’s leading producers of gas and also a major consumer of the commodity.
She said: ” In furtherance to that declaration, the federal government rejected the concept of a single pathway to energy transition and net zero carbon.
“The government is opting to continue to explore and invest in the development of hydrocarbon resources while pushing for the use of gas as the transition fuel.”
Ochogbu said the government was adopting the concept of a ‘Just’ energy transition which takes into cognisance the specific circumstances of each nation in developing the energy transition pathway.
“The objective of this workshop is to identify the challenges facing the Nigerian oil and gas industry in this dispensation of the new normal with regards to the future of gas in the energy mix and in the energy transition agenda of the nation in the coming period.
“At the end of the workshop, a communique of the proceedings will be issued and presented to the government of the Federal Republic of Nigeria.
“This will be our expertise contribution towards the actualisation of the government’s declaration of the decade of gas and its focus on driving a gas-propelled energy transition agenda,” she said.
Also, Mr Victor Sodje, Managing Director, Newcross Petroleum Ltd., said the
next decade of oil and gas business was going to be very challenging for those of who had not positioned themselves strategically.
Sodje said the challenges range from funding limitations by most international banks, geo-political challenges which impact fiscalised volumes and the anticipated limited non-African demand for Nigeria’s crude oil
“However, with over 50 per cent of our national budget being funded by fossil fuel, we as a country will face significant challenges and deficits if we don’t all take the challenge as a holistic national call for service to improve the nation’s revenue resource,” he said.
Sodje said the declaration on the decade of gas was an opportunity to optimise the nation’s gas derivatives and deepen its market participation via infrastructure development and diversify into petrochemical products.
He said it would increase Liquefied Petroleum Gas penetration enhanced by the elimination of gas flaring. (NAN)