The Nigerian National Petroleum Company Limited has affirmed its commitment to harnessing Nigeria’s vast gas resources to drive industrialization and economic progress in the country.
During a panel session at the ongoing 2024 CERAWeek Conference in Houston, United States, the NNPCL’s executive vice president for Upstream, Oritsemeyiwa Eyesan, reiterated this commitment.
Eyesan highlighted Nigeria’s abundant gas reserves, totaling over 200 trillion cubic feet (TCF), which she emphasized could fuel industrialization and economic development.
“Our focus is how do we move from predominantly oil players to gas players and not just for gas for the sake of gas but gas for power generation, and for industrialization,” she stated.
NNPC Ltd aims to deepen gas utilization domestically for industrialization and ensure equitable distribution and optimization of this resource across the country. Eyesan emphasized the company’s efforts in infrastructural gas development through various projects nationwide.
“We want to capture all gas flared, utilize it for domestic use and ultimately, increase our energy transition footprints,” she added, emphasizing NNPC’s commitment to emission reduction and gas flare-out.
Furthermore, Eyesan underscored NNPC’s alignment with the government’s agenda of utilizing gas as a transition fuel, extending beyond the domestic market to regional and international markets.
She emphasized the importance of collaboration among African countries to ensure equitable distribution of energy resources across the sub-region.
Regarding energy transition, Eyesan highlighted NNPC’s strategy to address energy poverty and capitalize on competitive advantages.
The panel also included energy experts such as Bob Fryklund from S&P Global Commodity Insights, Kendall Dilling from Pathways Alliance, and Philippe Mathieu from Equinor, discussing various aspects of energy strategy and development.
