Follow Us on Google
From Adewale Sanyaolu, Houston, Texas
The Nigerian National Petroleum Corporation Limited (NNPC) says the Federal Government has chosen gas as the transition fuel in order to bridge the energy gap to create economic development.
NNPC Board Chairman, Mrs Margrey Chuba- Okadigbo stated this in her remarks at the Offshore Technology Conference (OTC), Petroleum Technology Association of Nigeria (PETAN) organised session on Nigerian Energy and Supportive Industries in Houston, Texas.
Okadigbo stated that the energy industry is facing increasing demand to clarify the implication of energy transition for their operations and business models and to explain the contributions they can make to reducing green house gas emissions and to achieving the goals and commitment of Paris Accord and the COP 26. She said these increasing social and environmental pressures on many energy companies raise complex questions about the role of oil and gas in a changing energy economy and the positions of these companies in the societies in which they operate.
She said as the world transits to substituting fossil fuel to other forms of cleaner energy, Nigeria is still facing numerous challenges in ensuring energy security, deepening domestic gas utilization and maximising revenues derivable from hydrocarbon resources.
She explained that as world leaders and business leaders join in the global solidarity against climate change and reduction of carbon emissions, NNPC Limited is taking giant strides in lowering carbon footprints, sustaining energy security and driving prosperity in Nigeria.
‘’We believe that achieving and sustaining a carbon neutral economy requires inclusive policy actions that guarantees access to finance and low carbon technology.
Recently, Nigerian witnessed the enactment of the Petroleum Industry Act (PIA) 2012 which guarantees a reasonable return on investment , promotes business and operational transparency and proffers better fiscal regimes than it was in the past.
