December 5, 2022

We Are Making Huge Infrastructure Investments To Increase Gas Exports, Says Kyari

3 min read

According to Mallam Mele Kyari, Group Chief Executive Officer of Nigerian National Petroleum Company Ltd., Nigeria is driving the initiative for significant investments in Africa’s vital gas infrastructure to increase the continent’s exports of the commodity to Europe and other continents.

Kyari said this during a panel session at the ADIPEC Strategic Conference held in Abu Dhabi, the United Arab Emirates.

The panel session focused on how leadership and organizational agendas are changing as the industry navigates the evolving global energy landscape.

The conference is expected to accelerate the energy transition, unlock the real value of a decarbonized future, showcase ground-breaking technologies and explore actionable strategies and solutions to the challenges and opportunities created by complex global energy market dynamics.

It also serves as the leading venue for the energy industry to debate, deliberate, and address key issues on the trilemma of security of supply, affordability, and sustainability.

It also provides a platform for policymakers, energy CEOs, and industry professionals to address the critical factors influencing the energy ecosystem’s transformation and its role as a key enabler of the global economy.

Speaking at the event, the NNPC Boss said the energy transitioning aspiration has changed the dynamics of the global oil and gas industry.

He said currently, the global community is faced with the stark reality of sourcing for cleaner energy, adding that within this context, Nigeria has adopted gas as its transition fuel.

He said the Federal Government recognized the importance of gas to the global energy mix, stating that this is why huge investments are being made in the sector.

Currently, the NNPC Boss said working with the government of Morocco, Nigeria is building a gas pipeline infrastructure

He said, “There are very very stark realities that we are facing. Of course, it is also true that there is a huge impact of our business on climate. So, that is also real, we have the finance, and we have to face the reality of today and the truth is that we do need the energy of today.

“What we are doing is to build that capacity to clean and refined capacity so that we can take care of our current needs. And transit gradually, utilize the resources of today, and ultimately, use gas as a transition fuel.

“We can’t do this unless we have the infrastructure. Perhaps we have one of the largest oil-producing countries, the largest resources, 203trn cf of gas; over 200bn barrels of oil, but we know that we have the resources that can be of help to everyone and that is why we are engaged in the West African subregion including Morocco and to Europe to create a backbone infrastructure that will take gas from Nigeria to eleven countries into Morocco and hopefully in Europe.

“In essence, there is so much gas available that we all need today and it is becoming more and more critical for the energy industry globally.”

To harness the gas potential, he said the collaboration has become critical with all stakeholders.

Recall that two weeks ago, the NNPC signed a Memorandum of Understanding with the National Office of Hydrocarbons and Mines to kickstart the Nigeria-Morocco Gas Pipeline Project.

The Petrosen Tripartite of Senegal and SMH of Mauritania were part of the signing of the MoU which took place in Nouakchott, Mauritania.

The documents were signed by the Group Chief Executive Officer of the NNPC Ltd, Mele Kyari; Director General of ONHYM of Morocco, Ms. Amina Benkhadra; General Manager PETROSEN Holdings of Senegal, Adama Djallo; and DG SMH of Mauritania, Tourad Abdoul Baghi.

The MoU is in furtherance of the implementation of the Nigeria-Morocco Gas Pipeline Project.

The project was first conceived in December 2016 by the Federal Government and the Kingdom of Morocco during the visit of King Mohammed VI of Morocco to Nigeria.

The development is coming one month after NNPC Ltd sealed an MoU on the gas pipeline project with the National Office of Hydrocarbons and Mines of Morocco and the ECOWAS Commission.

The project is expected to assist in supplying gas to Morocco, 13 ECOWAS Countries, and Europe, integration of the economies of the sub-region, and improvement of living standards of people within the sub-region

Copyright © 2020 Swift Reporters. All rights reserved. | Newsphere by AF themes.