Nigeria’s gas potential sparks interest at global conference –

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The Nigerian pavilion attracted widespread attention at the ongoing World Gas Conference in the Republic of Korea.

It has been featured on some local television channels, a development that reflects growing interest in the country’s gas potential.

Several eager visitors were seen gathering in the colorful Nigerian pavilion marked by the Nigerian Gas Association (NGA) which Modion Communications, a local agency, helped organize and manage, for most of Tuesday, making various surveys and obtaining documentation on the country’s energy sector.

To tell the Nigerian gas story to a global audience, the NGA has partnered with a host of energy companies and government agencies, including the Ministry of Petroleum Resources, the Nigerian National Oil Companythe Nigeria LNG and the Nigerian Content Development and Monitoring Board.

The others are Oilserv, Seplat Energy Plc, Shell Companies in Nigeria, Gas Plus Synergy Limited, Nipco Gas Limited and Seina Marine Ltd.

Other companies include Neconde Energy Ltd, Shoreline Natural Resources Ltd/Heritage, Tetracore Ltd, Northridge Engineering Ltd, Axxela Group, Thompson & Grace Investment Ltd, Falcon Corporation Ltd and Desicon Engineering Ltd.

According to Mele Kyari, Managing Director of NNPC Group, Africa’s top oil producer also has the world’s seventh largest gas reserves and there is a real opportunity to leverage gas for development in the country.

During a plenary session of the conference on Tuesday, Mele Kyari called for more investment to develop gas, taking advantage of the window of opportunity now open as the world commits to net zero goals.

“The world has accepted that gas is a cleaner fuel, and it is the most urgent and acceptable transitional fuel we have. The opportunities are there, the technology is there and the more investment we can get , the easier it would be to reduce the energy poverty issues seen around the world,” Kyari said.

According to the NNPC boss, while climate change presents a challenge, it is necessary to strike the critical balance between protecting the climate and achieving energy security.

He said: “We have a challenge brought about by the energy transition; we all agree that climate change is real and is having a disproportionate impact across the world.

“However, there is huge energy poverty in many parts of the world, particularly in sub-Saharan Africa, and this gap cannot be filled by the current level of investment in the renewable energy sector.

“It is obvious that our gas activity presents real opportunities. The immediate future is very bright, but as we go to net zero by 2050, we don’t see the end of gas in 15 years, which means there is room for growth, room intervention and business opportunities.

Also read: Europe targets gas production in Africa, which should reach 470 billion m3 by 2030

Last year, Nigeria boosted its natural gas reserves from 202 trillion cubic feet (TCF) to 206.53 TCF, months after declaring an initiative called “Decade of Gas”.

Of this figure, associated gas, which is discovered during oil drilling, stands at 100.73 TCF while non-associated gas reserves now stand at 105.80 TCF, indicating the increasing role played by field operators in reserve development.

The participation of independents in Nigeria’s oil and gas industry has increased, even as international oil companies are shrinking due to a difficult operating environment marked by insecurity and endless unrest in communities where oil is explored. .

However, indigenous producers have proven better at managing community unrest and meeting the challenges of limited funding by collaborating and sharing resources.

Now they make the difference. For example, Shoreline Natural Resources Ltd, an independent producer on its own, contributed 2.5 TCF of this proven gas reserve.

Nigeria’s renewed focus on gas can be seen in new gas pipeline projects like the AKK pipelines and the recent marginal field tender, which clearly had gas fields as its primary focus.

The government has now set a new target to achieve a reserve position of 220 TCF by 2030.

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