Seplat Energy Plc, a leading Nigerian independent energy company, has underscored the pivotal role of gas development as a clear solution to Nigeria’s immediate challenges and a longer-term transition fuel.
The Director of New Energy at Seplat Energy, Mr. Effiong Okon, emphasized this perspective during the Gas Stakeholders Conversation panel session at the 2024 Nigeria International Energy Summit (NIES) held in Abuja.
Addressing stakeholders, Okon stated, “Increasing the supply of reliable, affordable, and sustainable energy is Nigeria’s greatest challenge, but clearly, gas is the logical transition fuel we need to realize this.”
Highlighting the multifaceted benefits of gas development, Okon linked it to various sectors such as power generation, Liquefied Natural Gas (LNG) export, Compressed Natural Gas (CNG) production, fertilizer production, Liquefied Petroleum Gas (LPG) production, and building materials production.
He emphasized that gas could address acute housing and infrastructure shortages, promote cleaner cooking methods, and enhance agricultural production, among other benefits.
“We can fund all of the above with gas. We can also reduce reliance on petrol, increase and decarbonize domestic transport fuel if we leverage gas. Of course, these would, in turn, strengthen our focus on sustainability,” he added.
Citing the IEA Global Energy Outlook 2022, which projects a 15% growth in natural gas production in Africa between 2020 and 2030, Okon stressed that the Nigerian energy industry must adopt end-to-end solutions to unlock the full value of Nigeria’s gas.
This involves focusing on exploration, production, gas processing, and efficient delivery of gas to the last mile.
For a sustainable gas development program in Nigeria, Okon highlighted the need for bankability and access to low-cost capital, the use of technology including the Internet of Things (IoT) and smart metering to reduce losses, and technology-enabled revenue delivery opportunities to aid fund collection.
