The Minister of State, Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has listed the following measures to improve the gas sector in Nigeria and Africa:
– Adoption of gas technology and innovation
– Effective policy frameworks
– Unlocking financing avenues
– Nurturing capacity building
– Cultivating entrepreneurship
He made this known at the Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas, where he spoke on the need for Africa to develop major infrastructure projects and deepen reforms in the energy sector.
According to him, the continent needs to raise its ambitions on energy strategy to increase power generation capacity, encourage public-private partnership investments, and mobilize international investments.
He also mentioned that Nigeria has for years been importing dirty fuel into the country, which has been responsible for many cases of cancer in Nigeria and Africa.
He advised the Federal Government to enforce regulations stopping the importation of dirty fuels.
The Nigerian National Petroleum Corporation (NNPC) has invested in floating LNG and gas pipeline projects and is leading the federal government’s auto-gas initiative.
The Corporation has also signed a Project Development Agreement (PDA) with Golar LNG for the deployment of an FLNG facility offshore Niger Delta, which is expected to produce LNG, LPG, and condensate.
The facility, with a capacity of 400-500 million standard cubic feet per day (MMscf/d), aligns with President Bola Ahmed Tinubu’s mandate to leverage Nigerian gas for sustained economic growth.
The NNPC and Golar LNG are eyeing the end of 2024 to achieve a final investment decision (FID), with first gas production expected by 2027.
The African Energy Chamber (AEC) has commended the NNPC and Golar LNG for this industry milestone, noting that projects such as the FLNG facility will play an instrumental part in scaling up gas commercialization in Nigeria and laying the foundation for a new era of industrialization across the continent.
At the 2024 Africa Gas Innovation Summit in Abuja, the NNPC CEO also announced plans for three mini-LNG projects and six additional CNG mother-station plants, totaling 5.2 mscf/d capacity.
The Director General, National Office for Hydrocarbons and Mines, Morocco, Amina Benkhadra, disclosed that there are over $245 billion worth of investment opportunities for gas infrastructure development across Africa, with $100 billion needed annually to meet electricity demand by 2030, and a total investment of $3 trillion required by 2050.
The summit’s theme was “Igniting the Future: Driving Sustainability in Africa’s Energy Landscape through Gas Technology and Innovation.”
Overall, these developments indicate a push towards improving Nigeria’s gas sector and increasing investment in gas infrastructure across Africa, with a focus on sustainability and innovation.
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