Nigeria To Play Key Role in Global Energy Transition – Petroleum Minister
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said that Nigeria will play a leading role in the global net-zero transition.
Chief Sylva, who said this at the weekend while speaking at the 10th anniversary of the West African Gas Pipeline Company Limited (WAPCo), said the country will stake natural gas as its favourite energy transition fuel.
During the anniversary held in Lagos with a theme, ‘‘Driving Regional Energy,’’ Sylva said that the Nigerian government was taking steps to expand and develop its gas resources.
According to a DAILY TRUST report, Sylva, who was represented by his Chief of Staff, Adedapo Odulaja, further noted that the expansion was being carried out through enhanced gas exploration, development, and utilization schemes.
He said that with approximately 209 trillion cubic feet (TCF) of proven gas reserves and a further potential of 600TCF, Nigeria has no reason not to lead Africa in the global energy transition race.
“Thus we are well placed to take a leading role in providing the much-needed gas.”
The minister also pointed out that the Petroleum Industry Act (PIA) will further support Nigeria and the global push to eliminate energy poverty as identified in the United Nations’ Sustainable Development Goal (SDG).
“The Act has generous incentives to enhance the development, distribution, penetration, and utilisation of gas, even as it incentivises entry into the midstream.”
Chief Sylva further disclosed that the federal government will continue to expand the natural gas subsector with a focus to ensure global economic recovery and shared prosperity.
According to him, the establishment of WAPCo represents the region’s effort at self-development and energy security, explaining that the West African Gas Pipeline (WAGP) project at inception was to improve the competitiveness of the energy sectors in Ghana, Benin, and Togo.
“This is by promoting the use of cheaper and environment-friendly natural gas from Nigeria in lieu of solid and liquid fuels, for power generation and other industrial, commercial, and domestic uses.
“Ten years down the line, the WAGP has literally become the poster child of economic integration in West Africa.
“The synergy that created this fellowship of industry players, under the public-private partnership banner, is the type we currently preach as an administration,” the minister explained.
Also speaking during the event, the Managing Director of WAPCo, Greg Germani, said that from conception through to the operational phase of the WAGP, Nigeria had constituted an integral part of its value chain, with the country sharing resources with the rest of the sub-region.
Germani said, “I also salute the vision and courage of ECOWAS and the commitment it took to navigate the complexities of forging a bond of four diverse nations, with two private concerns, to create this outstanding example of partnership and collaboration.
“As we traveled the entire stretch of the pipeline system, celebrating the successes and achievements of the WAGP and sharing our stories, I could only pause to marvel at the human spirit.
“However, WAPCo is now an efficient and dependable natural gas transporter to customers in Benin, Togo, and Ghana, supporting safe, cleaner, efficient, long-term, and secure power generation from gas supply sources in both Nigeria and Ghana.”