The Nigerian National Petroleum Company (NNPC) Ltd has called for more collaboration and transparency among parties in the gobal energy
industry’s quest to phase out carbon emissions across the oil and gas value
chain and achieve net-zero by 2050.
Group CEO NNPC Ltd, Mele Kyari made this callwhile speaking at a Strategic
Panel Sessiontitled “Decarbonising Operations across Upstream,
Midstream and Downstream” at the ongoing Abu Dhabi International
Petroleum Exhibition & Conference (ADIPEC 2024) in Abu Dhabi, United
Arab Emirates, on Tuesday.
According to the statement signed on 5th November, 2024, by
Olufemi O. Soneye, Chief Corporate Communications Officer
NNPC Ltd., Abuja.
Kyari said beyond collaboration, transparency and openness are also
important and not by vilifying those lagging behind, but by ensuring that
the gaps between al parties are bridged.
Kyari, who was represented by NNPC Ltd’s Executive Director, Upstream,
Mrs. Oritsemeyiwa Eyesan said Africa is currently faced with the challenge
of tackling the twin problem of decarbonization and energy poverty and to deal with such chalenge,Nigeria made two fundamenta poicy shiftsto
support the nation’s decarbonization process.
“One is declaring the decade of gas as transition fue from a predominantly
diesel and fuel economy to a gas-driven economy,while the second is the
removal of fuel subsidy. NNPC Ltd has relied on these two poicies to drive
the nation’s decarbonization agenda,” Kyari said.
He added that as a signatory to the Oil & Gas Decarbonisation Charter
(OGDC), Nigeria is focused on achieving gas flare-out by 2030through the
utilisationof gas for automotive andpower generation.
Kyari, who said Nigeria sitson huge gas reservesof up to 209 trilion cubic
feet (tcf), explained that access to capital for fundinggas projectshas been
a chalenge as the balance sheet which could be easily used for raising
moneyto fund gas projects,comesmostly from the nternational Oil
Companies (OCs), which is also largely focused on export gas.
“It is important to know that if we must solve this existential problem, then
there should be a provision for the global south (less energy endowed
countries) to access capital to enable them address theirproblems,” he
observed.
Kyari decried how al parties are paced in the same bracketin the quest to
decarbonize, saying that because the pace of progress is based on current
stateof the countries, the OGDC must continue to provide a leve playing
field for all.
“It is in understanding the differences that exist among us, even though we
are trying to solve the same problem,” he added.
Describing the level of collaboration in the quest to decarbonize as
“phenomenal”, Kyari cited the example of TotalEnergies, which took the
challenge to partner with NNPC Ltd through its methane measurement
and detection technology.
With over 180,000 participants in attendance, ADIPEC is adjudged to be the world’s largest and most inclusive gathering of energy professionals. This
year’s edition, the 40th in the series of the annual event, holds under the
theme , “Connecting Minds. Transforming Energy”as global energy leaders continue to find ways of accelerating innovation and colaboration towards fast tracking global energy transformation.
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