The Nigerian National Petroleum Company (NNPC) Ltd. has called for stronger collaboration and transparency in global energy decarbonisation efforts, aiming to phase out carbon emissions across the oil and gas value chain and achieve net-zero by 2050.
Group CEO Mele Kyari made these remarks during a strategic panel session titled “Decarbonising Operations across Upstream, Midstream and Downstream” at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2024) in the UAE.
Represented by NNPC Ltd.’s Executive Director for Upstream, Mrs. Oritsemeyiwa Eyesan, Kyari highlighted that openness and mutual support, rather than vilifying those with slower progress, are crucial for closing gaps between nations and organisations. Kyari also pointed out that Africa faces a unique challenge of balancing decarbonisation with combating energy poverty.
To address these dual goals, Nigeria has implemented two major policy shifts: declaring a “decade of gas” to transition from diesel-based energy to gas, and removing fuel subsidies. These steps, Kyari said, are central to Nigeria’s decarbonisation strategy, with NNPC focused on reducing gas flaring by 2030 through increased use of gas for vehicles and power generation.
While Nigeria has substantial gas reserves of up to 209 trillion cubic feet, Kyari noted that financing remains a challenge. Access to capital for gas projects is often limited, as much of the funding potential lies with international oil companies (IOCs) that prioritise export gas. He stressed the need for mechanisms that allow less energy-endowed countries, like those in the Global South, to access necessary funding.
“It is important to know that if we must solve this existential problem, then there should be a provision for the global south (less energy endowed countries) to access capital to enable them address their problems,” he observed.
Kyari decried how all parties are placed in the same bracket in the quest to decarbonise, saying that because the pace of progress is based on current state of the countries, the OGDC must continue to provide a level playing field for all. “It is in understanding the differences that exist among us, even though we are trying to solve the same problem,” he added.
Describing the level of collaboration in the quest to decarbonise as “phenomenal,” Kyari cited the example of TotalEnergies, which took the challenge to partner with NNPC Ltd. through its methane measurement and detection technology.
ADIPEC 2024, now in its 40th edition, has brought together over 180,000 participants, with this year’s edition holding under the theme “Connecting Minds. Transforming Energy.” The event highlights global collaboration as energy leaders push for innovative solutions to accelerate the global energy transition.
Melissa Enoch
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