Malam Mele Kyari, Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPC Ltd) on Wednesday said that energy security will rightly be achieved by the realisation of Nigeria’s Decade of Gas Initiatives inaugurated in 2021 by President Muhammadu Buhari.
The NNPC Boss, said this in Abuja at the opening of Decade of Gas/International Gas Day, with the theme “Ensuring the Realisation of Nigeria’s Decade of Gas”.
The Nigeria Gas Association (NGA) held the 13th International conference of Decade of Gas Day on the sidelines of the Nigeria International Energy Summit 2023 (NIES).
The Federal Government inaugurated 2021 to 2030 as Nigeria’s Decade of Gas, a period the government aspired to accelerate domestic and export gas production and utilisation.
Kyari, represented by Mr Seyi Omotowa, Managing Director, Nigerian Gas Infrastructure Company Limited, said gas had been given prominence as an enabler for energy security and economic development.
This, he said, set the tone for Nigeria’s drive to harness the nation’s natural gas reserves, increase domestic gas utilisation for power and industries as well as gas exports to regional and international markets.
“This will facilitate a shift to a gas-based economy to foster economic growth and industrialisation driven by gas and also support Nigeria to meet its commitment to achieving net zero emission target by 2060.
“NNPC plays an active role in realising the intended benefits of the Decade of Gas Initiatives and we are collaborating with the Federal Government on sub initiatives such as the National Gas Expansion Programme.
“This will promote domestic gas utilisation in various sectors such as power, industries, transport and for virtual gas supply to off pipeline grid gas Customers,” he said.
The GCEO said the opportunities to be unlocked from the Decade of Gas were numerous with significant benefits for Nigeria.
He said with over 200 trillion standard cubic feet (scf) of natural gas reserves and a potential of growing to 600 trillion scf, there would be enough resources for numerous gas utilisation projects being developed by NNPC Limited and Partners.
He said the NNPC Ltd. was taking advantage of the huge reserves to support growth in the power and industrial sectors, address energy poverty, reduce carbon-footprint and create more employment opportunities.
He therefore called on investors in addition to the industry players, to seize this opportunity to create wealth and value for the country.
In an address, Mr ED Ubong, NGA President and Managing Director, Shell Nigeria Gas, expressed dissatisfaction that Nigeria had significant gas reserves but the demand outstreams supply continuously.
Ubong, however, said without establishing the right capacity, there would be no sustainable gas supply and utilisation.