“GAS IS NIGERIA’S LOGICAL TRANSITION FUEL, SAYS SEPLAT ENERGY”

Making a argument for the development of gas in Nigeria, Seplat Energy Plc, a prominent Nigerian independent energy company, has asserted that gas development provides a clear solution to Nigeria’s immediate challenges and serves as a long-term transition fuel.

Mr. Effiong Okon, the Director of New Energy at Seplat Energy, expressed this view while delivering a keynote address during the Gas Stakeholders Conversation panel session at the 2024 Nigeria International Energy Summit (NIES) held in Abuja.

“Increasing the supply of reliable, affordable, and sustainable energy is Nigeria’s greatest challenge, but gas is the logical transition fuel we need to realize this,” Okon stated.

He connected gas development to various sectors, including power, Liquefied Natural Gas (LNG) export, Compressed Natural Gas (CNG) production, fertilizer production, Liquefied Petroleum Gas (LPG) production, and building materials production.

Okon added:

“Today we have acute housing and infrastructure shortage, but no commercially viable substitute for the production of building materials such as cement, glass, steel; about 90,000 deaths per year due to biomass cooking; and rising population presents an urgent need to improve agricultural production. We can fund all of the above with gas. We can also reduce reliance on petrol, increase and decarbonize domestic transport fuel if we leverage on gas. Of course, these would in turn strengthen our focus on sustainability.”

According to the IEA Global Energy Outlook 2022, natural gas production in Africa is anticipated to grow by 15 percent between 2020 and 2030, primarily due to new projects in Egypt, Nigeria, and Mozambique.

Okon emphasized that the Nigerian energy industry must concentrate on end-to-end solutions to unlock the full value of Nigeria’s gas, highlighting that exploration.

From the News Source: Techeconomy