The Nigerian National Petroleum Company Limited (NNPC Ltd) has called for increased collaboration and transparency among stakeholders in the global energy industry’s quest to eliminate carbon emissions and achieve net zero by 2050.
Mr. Mele Kyari, the Group CEO of NNPC Ltd, made this call during a strategic panel session at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2024).
In a statement released on Tuesday by Mr. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., Kyari, represented by NNPC Ltd’s Executive Director, Upstream, Mrs. Oritsemeyiwa Eyesan, noted that Africa faces the dual challenge of decarbonization and energy poverty.
To address this, Nigeria has implemented two key policy shifts: declaring the decade of gas as a transition fuel and removing fuel subsidies. These policies drive Nigeria’s decarbonization agenda.
As a signatory to the Oil & Gas Decarbonisation Charter (OGDC), Nigeria aims to achieve gas flare-out by 2030 through gas utilization for automotive and power generation.
With 209 trillion cubic feet of gas reserves, Nigeria seeks to bridge the gap in access to capital for funding gas projects, primarily reliant on International Oil Companies (IOCs).
Kyari pointed out the importance of recognizing differences in countries’ progress toward decarbonization, advocating for a level playing field.
He commended TotalEnergies’ partnership with NNPC Ltd., utilizing methane measurement and detection technology.
The ADIPEC 2024 conference brings together over 180,000 energy professionals, focusing on “Connecting Minds, Transforming Energy” to accelerate innovation and collaboration.
NNPC’s call for collaboration and transparency comes as the company navigates its role in Nigeria’s energy landscape.
Historically, NNPC has faced challenges in refining and distributing petroleum products, with its refineries operating below 25% capacity since 1997.
The company’s petroleum distribution system has also been criticized because of its inefficiency, contributing to fatal traffic accidents.
Despite these challenges, NNPC remains committed to decarbonization.
The ADIPEC conference provides a platform for global energy leaders to address pressing issues, including decarbonization and energy access.
As Nigeria and other countries strive to achieve net-zero emissions, the importance of collaboration, transparency, and tailored solutions cannot be overstated.
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