Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) Ltd., has emphasized the need for a differentiated approach to energy transition in Africa, particularly in sub-Saharan countries. He made these remarks during a Leadership Dialogue Session at the ongoing CERAWeek Conference in Houston, United States, on Tuesday.
Kyari highlighted the complexities surrounding energy transition, especially in regions where energy availability remains a challenge. He stressed the importance of prioritizing energy security before transitioning to cleaner energy sources. In sub-Saharan Africa, where a significant portion of the population lacks access to clean cooking fuels, filling the energy supply gap is essential.
While acknowledging the global push towards renewables, Kyari emphasized the necessity of finding funding for renewable energy projects. He advocated for a gradual and differentiated transition, considering Africa’s relatively small contribution to global emissions.
NNPC Ltd.’s current focus, according to Kyari, is on enhancing its capacity to deliver gas to both domestic and international markets. Leveraging Nigeria’s abundant gas resources, he emphasized the role of gas as a crucial alternative fuel.
Kyari also provided insights into the progress of the Nigeria Morocco Gas Pipeline Project (NMGP), which aims to create a pipeline spanning thirteen African countries to Europe. He announced that the Final Investment Decision (FID) for the $25 billion project is expected to be made by December 2024.
Highlighting NNPC Ltd.’s role in Nigeria’s oil and gas industry, Kyari noted the transformative impact of the Petroleum Industry Act (PIA) 2021. The Act has positioned NNPC Ltd. as a commercially oriented entity accountable to shareholders, with plans for eventual listing on the stock exchange.
Regarding security challenges, Kyari addressed Nigeria’s efforts to combat crude oil theft, emphasizing joint initiatives with government and private security agencies. He cited improvements in crude oil production and investor confidence following these efforts.
CERAWeek Conference, renowned as one of the largest energy conferences globally, serves as a platform for discussions on the future of energy. This year’s theme, “Multidimensional Energy Transition: Markets, Climate, Technology, and Geopolitics,” reflects the industry’s focus on emissions reduction and cleaner energy solutions. With participation from over 90 countries and 1,400 speakers, the conference aims to explore strategies for navigating the complexities of the energy transition.
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