By Yunus Yusuf

Stakeholders in Nigeria’s oil and gas sector have urged the Federal Government to prioritise regional and continental strategies rather than focusing solely on national measures.

They made the call during an interview with the News Agency of Nigeria (NAN) at the ongoing 2024 World LNG Summit and Awards in Berlin, Germany, on Thursday.

Mr Abdulmalik Halilu, the Director of Monitoring and Evaluation at the Nigerian Content Development and Monitoring Board (NCDMB) emphasised the importance of adopting an integrated approach to carbon emissions reduction.

“We must not look at net-zero goals as a stand-alone national issue.

“Instead, Nigeria should consider these regulations from the ECOWAS and African perspectives, recognising our interdependence,” he said.

Halilu also noted that regulations on emissions must operate at regional or continental levels, rather than being confined to individual countries.

“Our collective efforts are crucial, and each country should tailor its net-zero pathway to its unique circumstances, while aligning with broader regional and continental objectives.” he added.

The director highlighted the positive impact of the conference, especially in addressing issues related to decarbonisation, LNG infrastructure, and the role of renewables in reducing carbon footprints.

“The discussions around LNG, renewables, and reducing emissions have been enlightening, particularly in terms of ensuring responsible development and reducing the impact of carbon emissions,” Halilu explained.

He also touched on the importance of financial institutions in promoting responsible environmental and social practices in energy projects.

“Environmental, Social, and Governance (ESG) requirements are not intended to limit funding but to ensure that projects are developed responsibly, with care for the environment and social inclusion,” he said.

Halilu further stressed the importance of responsible hydrocarbon development, using the Ogoni cleanup incident as a cautionary example.

He encouraged the Nigerian energy sector to invest in ddecarbonisation echnologies and consider the long-term environmental impact of energy production.

“Nigeria must develop solutions that ensure low carbon intensity, especially as new LNG projects expand.

“We must invest in innovative, sustainable technologies and build local capacity to manage and maintain these solutions,” he said

Echoing similar sentiments, Mr Olajide Bamidele, Director of Weight and Measures at the Federal Ministry of Trade and Investment, emphasised the growing importance of LNG in Nigeria’s energy future.

Bamidele noted the need to balance LNG’s dominance with the rise of alternative renewable energy sources.

“We must prepare for the future by addressing challenges in LNG development and exploring new energy solutions to ensure long-term sustainability,” he said.

He said that the conference provided a valuable opportunity for Nigerian stakeholders to learn from global best practices, particularly regarding emissions reduction and energy transition strategies.

Both Halilu and Bamidele highlighted the need for Nigeria to adapt successful international policies to its own context, with a focus on creating a more sustainable energy landscape.

“As the country moves toward its 2060 net-zero target, the discussions at the summit underline the need for collaboration, innovation, and responsible development across the energy sector.

“With significant investments in LNG and upstream gas projects expected, the focus on decarbonisation and environmental responsibility remains crucial for Nigeria’s energy future,” they explained.

NAN reports that the five-day World LNG Summit and Awards, organised by DMG Events Ltd., attracted 750 attendees and featured 200 speakers from 500 companies across the energy value chain. (NAN)(www.nannews.com)

Edited by Ismail Abdulazeez

By Yunus Yusuf

Nigerian lawmakers have reiterated their commitment to strengthening policies aimed at benefiting host communities, particularly in the oil and gas sectors.

They made the pledge during an interview with the News Agency of Nigeria (NAN) at the ongoing 2024 World LNG Summit and Awards in Berlin, Germany, on Wednesday.

Mr Dumnam Dekor, Chairman of the House Committee on Host Communities, representing Khana/Gokama Federal Constituency in Rivers said that a comprehensive policy review would better support host communities.

“There is an urgent need to revisit certain policies to ensure that they truly benefit the people, particularly those living in areas where critical infrastructure, such as LNG facilities, are located.

“The experiences shared here at the summit reinforce our resolve to amend laws to better align with global trends,” he said.

He also commended the summit’s organisers for the valuable insights and commended the role of Nigeria LNG (NLNG) in the country’s development.

“NLNG stands out as a leading company in Nigeria, not just for its business success but also for its efforts in reducing gas flaring, which is in line with the global shift away from hydrocarbons,” Dekor added.

Mr Hart Godwin, a lawmaker representing Degema/Bonny Federal Constituency in Rivers, also said that the increasing global demands for LNG as nations work toward achieving net-zero emissions by 2050.

“The world is rushing to extract LNG for energy, and those of us with abundant reserves must act swiftly.

“If we do not keep up with the global pace, we risk being left behind as more countries join the LNG race,”Godwin stated.

He added that Nigeria LNG was already expanding its capacity with the construction of its seventh train and almost completed would increase capacity by 30 million metric tons per annum.

However, Godwin acknowledged that in spite this progress, Nigeria’s LNG production was still not at full capacity, with current output at only 50 per cent of installed capacity.

He called for increased investment in upstream energy projects, to tap into the country’s vast natural gas reserves, estimated at 203 trillion cubic feet.

“We must focus on creating an environment that attracts investment, particularly in deep-water gas production.

“The regulatory landscape must be conducive to competition, and addressing security challenges will be crucial to reducing production costs.” Godwin said.

Godwin also lauded President Bola Tinubu for his recent executive order on oil and gas reforms, which includes tax incentives such as a 30 per cent gas credit for production.

These incentives, he said, would help make Nigeria’s LNG more competitive on the global market.

“The current security challenges and tax burdens affect our ability to be competitive. But with the right policies and incentives, Nigeria can position itself as a leading LNG exporter,” he said.

NAN also reports that the 2024 World LNG Summit, with the theme “Achieving the Balance Between Energy Security and Decarbonisation”, brought together over 750 attendees, including 200 speakers from 500 companies across the energy value chain.

The summit highlighted the critical role LNG plays in meeting the world’s energy needs while addressing climate change. (NAN)(www.nannews.com)

Edited by Olawunmi Ashafa