By Gilbert Boyefio

“The opportunities for Indigenous Ghanaians in the upstream oil and gas industry have increased drastically due to the local content regulations, 2013 (LI 2204),” said Nuertey Adzeman, Executive Director of the Ghana Oil and Gas Service Providers Association (GOGSPA).

He said the L.I. shows the determination of government of Ghana to get Ghanaian SME’s to own the oil and gas industry, reduce capital flight, unemployment, and improve Technical and Managerial Capacity as well as accelerated growth of the Ghanaian economy.

He pointed out that the L.I has also made it compulsory for all foreign companies to have Joint ventures (JV) with indigenous companies.

Mr. Adzeman also applauded the Petroleum commission for encouraging the IOC’s and the FSC’s to unbundle their procurement contracts to enable more participation of indigenous companies.

GOGSPA is an advocacy, lobbying and monitoring association with the mission to strengthen the competitiveness of indigenous companies in the oil and gas industry, to train and build the capacity of members and to work closely with all stakeholders in the industry.

It promotes the interests and integrity of oil and gas service providers in Ghana, to ensure that they carry out their activities to the highest professional standards achievable.

GOGSPA also facilitate and promote local content in the oil and gas industry and compliance with local, international standards, procedures and practices in the petroleum industry.

Challenges facing the local players

Mr. Adzeman cited fronting; limited technical know-how or capacity; financial constraint; cost to capital; access of capital, stringent requirements for loans; prefunding and credit facility (30 – 45 days, tender requirement to prefund all services); recent decline in offshore activities; and the absence of special tax exemptions, waivers and incentives for local companies as opposed to similar exemptions enjoyed by foreign resident companies in the extractive industry, as some of the challenges confronting the indigenous players in the industry.

The New Partnership for Africa’s Development has announced plans to regulate the import and export of products from Africa. The Special Assistant to the President on NEPAD, Nigeria, Mrs. Fidelia Njeze, who disclosed in Abuja, stated that the agency was working out a regulation which would ensure that only quality products are imported and exported into Nigeria and other African nations.

According to Njeze, the regulation will be crafted during the NEPAD Africa forthcoming Trade Fair, noting that countries on the continent had realised the significance of diversifying their economies, developing local contents, and enhancing the competitiveness of products in the international market.

The special assistant, in a statement from the agency, was quoted as saying that “The Trade Fair with the theme ‘Harnessing Potentials for Inclusive Regional Growth,’ would be a platform for facilitating NEPAD product certification designed to open windows of opportunities for African made products in the international export market.

“It would also create an indispensible one stop market for African made goods and services and craft a standard of regulation for ensuring that only quality products are imported and exported from Africa. This platform would further be an opportunity to showcase what we have in Africa and market our investment potentials while the           Business and investment Forum will encourage African businesses to network.”

Njeze described the NEPAD Africa Trade Fair as a veritable tool for the socio-economic transformation of the continent.

According to the statement, Njeze also inaugurated the National Organising Committee of the 2015 NEPAD Africa Trade Fair of indigenous products and services, a platform to showcase and promote Africa’s local content.

It disclosed that the committee was charged with the responsibility to work assiduously to ensure a resounding success of the second edition of the fair scheduled to hold in October.

Njeze stated that the Trade Fair initiative was a product of a successful collaboration between NEPAD Nigeria, and the Africa Trade Centre with the support and approval of the Federal Government.

It highlighted other partners to include the NEPAD Planning and Coordinating Agency, South Africa, and the African Diaspora Chamber of Commerce, United States of America.

Contained in the statement, the fair is expected to commence with a five-day exhibition of African made products, followed by a two-day Business and Investment Forum on Africa, and presentations of Africa Achievement Awards.

It noted that the inaugurated planning committee comprised of 25 members with Mr. Sunday Ogu, Director, Programme Development and Implementation, NEPAD Nigeria, serving as Chairman.

Ogu assured that the committee was dedicated to work together to host an event that will meet all international standards.

…Appoints VC, Registrar for Varsity

By Margaret Nongo-Okojokwu

The Federal Executive Council (FEC) has given an approval to the Nigeria Maritime University (NMU) to commence academic activities. The university is an initiative of the Nigerian Maritime Administration and Safety Agency (NIMASA).

The institution, which received FEC approval at its meeting in Abuja on Wednesday, May 13, 2015 as announced by the Hon. Minister of Information, Mrs Patricia Akwashiki, is the first full-fledged maritime university in West Africa.

With its permanent site in Okerenkoko, Warri South-West Local Government Area of Delta State, the university is expected to run courses in Marine Engineering, Naval Architecture, Nautical Science, Transport Technology and other maritime related professional areas at degree and sub degree level.

Speaking on the approval, the Director General of NIMASA, Dr. Ziakede Patrick Akpobolokemi said “this formal approval of the licence will signify a major milestone in the Agency’s capacity building initiatives as it will guarantee sustainable training of qualified manpower for the maritime industry at international standard”.

Following the licence issued by the Federal Government, the university is now set to commence academic activities at its fully developed temporary site in Kurutie, also in Warri-South West Local Government Area.

The ground breaking ceremony of the institution, as well as the NIMASA Shipyard and Dockyard in Okerenkoko, was conducted by President Goodluck Ebele Jonathan in May, last year.

Similarly, the Federal Government has also approved the appointment of Professor (Mrs.) Ongoebi Maureen O. Etebu and Mr. Anho Nathaniel Esoghene Lucky as Vice Chancellor and Registrar, respectively, of the newly approved Maritime University,

A Statement issued by the permanent Secretary, Federal Ministry of education, Dr. MacJohn Nwaobiala noted that Mrs. Etebu is a Professor of Mechanical Engineering in the Department of Mechanical Engineering College of Engineering, University of Port Harcourt. She graduated with a B.Sc, Degree from the University of Pittsburgh, Pennsylvania, USA, IN 1982, and went on to obtain a PhD in Mechanical Engineering from the Federal University of Technology, Owerri (FUTO), in 1997.

The Vice Chancellor also obtained an MSc in Engineering from the same university and an MBA programme from the University of Port Harcourt with a bias in Management.  She has extensive working experience in the University community and the Public Service and is currently occupying a Professional Chair for Engineering Management.

The Registrar, Mr. Lucky, obtained a BA (Education) History/Foundations degree from the University of Port Harcourt and a Masters in Industrial and Labour Relations.  He has held several positions in the University Community spanning from Senior Assistant Registrar to the position of Deputy Registrar/College Secretary, College of Health Science, Delta State University, Abraka, a position which he held until his appointment.

The NIMASA management, led by the Director General, Dr. Ziakede Patrick Akpobolokemi, has remained committed and focused in building human capacity for the Nigerian maritime sector through strengthening the Nigerian Seafarers Development Programme (NSDP), a scholarship programme designed to train young Nigerians in various maritime professions at degree level. NSDP has over 2,500 beneficiaries in academic institutions in Egypt, India, Philippines, Romania and the United Kingdom; a number of whom have since graduated.

The Akpobolokemi administration has also established Institutes of Maritime Studies in six Nigerian universities, including University of Lagos, University of Nigeria Nsukka, Ibrahim Badamasi Babangida University, Lapai Niger State, Niger Delta University Amasoma, Bayelsa State, Anambra State University Uli and Federal University Kashere, Gombe State.

By Margaret Nongo-Okojokwu

The Federal Government of Nigeria in its effort to ensure that all Sea Ports in the country become globally competitive and professionally productive in terms of revenue generation and efficiency; concessioned the sea ports to private operators. The Government in the same vein designated the sea port terminals for the handling of specific types of cargoes based on a categorization of cargoes authorized to be handled by each of the terminals in the country, before handing over to the private operators.

However, some operators who do not understand the categorization of the cargoes have been applying varying interpretations. This situation forced a concessionaire at Warri Port named Associated Maritime Services Ltd (AMS), to seek legal interpretation on the contentious issue at the Federal High Court in Port Harcourt.

The case between Associated Maritime Services Ltd vs City Real Estate & Property Management Company with suit No. FHC/PH/CS/74/2014 was brought before Hon. Justice Lambo Akanbi, of the Federal High Court in Port Harcourt, following the refusal of the Defendant to pay the rate charged in respect of its cargo.

Delivering judgment at the close of legal presentations by both parties, the Presiding Judge said and I quote “ On the whole, and in the final analysis, I hold that there is great merit in the plaintiff’s case”, and affirmed that the designation of the various ports in the Federal Republic of Nigeria into different cargo terminals by the Nigerian Ports Authority (NPA) and Bureau of Public Enterprises (BPE), is in line with the respective mandates of the NPA and the BPE, and is ipso facto, valid, subsisting, authentic and therefore to be adhered to or complied with by both operators (concessionaires) and port users alike.

He also declared that all imports or exports of oil and gas cargoes are to be undertaken through the designated oil and gas cargo terminals and are liable to be charged rates and delivery charges applicable to the oil and gas cargoes, as approved by the Nigerian Ports Authority.

According to the Judge, “by virtue of the Nigerian Ports Authority Act Cap N-123 laws of the Federation of Nigeria 2004 and in particular, Sections 7(a),(b),(c) and (k); 8(1) and 32(1) thereof, the Nigerian Ports Authority is vested with powers to enforce compliance with the arrangements made by the BPE designating all Federal Ports in the Country as to guarantee, among others, the efficient management of port operations, optimal revenue inflow and return of investments in port operations and facilities

Reacting to the landmark judgment, maritime stakeholders are of the opinion that the judgment has come very timely; as this will completely erase any doubt whatsoever as to the designation of the seaports and the categorization of cargoes in the country. They also believed that it makes so much economic sense, as all the oil facilities and activities are located within the designated Oil and Gas Terminals of Nigerian Ports Authority (NPA), Ports of Onne, Warri and Calabar which are located in the poverty stricken Niger Delta States of Nigeria.

The Maersk Group has reported a “very satisfactory” $1.6bn profit for the quarter, despite a 10 percent drop in revenues.

The results include $223m gain on the sale of shares in Danske Bank, with 85 percent ordered by AP Moller Holding, and 7 percent by other shareholders.

As the oil price dropped, Maersk Oil’s profit fell from $346m in Q1 2014 to $208m in the first quarter of this year, and cash flow fell to $105m from $734m in Q1 2014. Lower price expectations for oil are informing cost-benefit analyses for the unit’s future exploration activities.

Profit at APM Terminals was $190m, down from $215m in the same period last year. Currencies weakening against the US dollar affected results, with oil-dependent markets also returning lower revenues as the oil price slumped.

Maersk Line reached a record result for the first quarter, with a $714m profit.

APM Shipping Services, the business unit which includes Maersk Supply Service, Maersk Tankers and Svitzer, saw an increase in profit to $94m. Maersk Supply Service and Maersk Tankers both reported significantly improved profits, enough to counter a drop in profit at Svitzer and a loss at Damco.

“In a quarter impacted both by low oil prices and low economic growth, the underlying profit increased by 18% to USD 1.3bn, mainly driven by Maersk Line, Maersk Drilling and APM Shipping Services,” commented group CEO Nils Andersen. “All businesses affected by low oil prices launched cost initiatives to safeguard long term profits and competitiveness. Based on the performance in Q1, the Group now expects an underlying result of around USD 4bn for 2015.” 

A.P. Moeller-Maersk A/S, owner of the world’s largest shipping container line, is seeking to win contracts to build and upgrade ports in Nigeria and Kenya as the Danish company expands its African operations.

Maersk is awaiting a final sign-off on a contract to help build a new port in Badagry in Nigeria’s southern Lagos state, according to Lars Reno Jakobsen, the company’s senior vice president for Africa.

“That project, once its been finalized could be more than $2 billion in terms of investment,” he said in an interview at the World Economic Forum in Cape Town recently. “Hopefully we can start some time this year. It will provide capacity, not only for containers, but also for oil, break-bulk and offshore.”

Maersk employs almost 10,000 people in more than 40 African nations and generates about 10 percent of its sales in and around the continent. Besides its shipping business, the Copenhagen-based company supplies oil- and gas-related services. The company’s APM Terminals unit operates 10 West African ports.

“We are actively looking in East Africa for opportunities,” Jakobsen said. “There is an ongoing tender process for the port of Mombasa, where APM Terminals has shown interest” in building two new berths in the Kenyan city.

Maersk is also working on a $1 billion expansion to Ghana’s Tema port in collaboration with the West African nation’s ports authority. The project includes the construction of four new berths and will more than quadruple the port’s capacity.

In 2013, Maersk partnered with Bollore SA and Bouygues SA to win a 450 million-euro ($500 million) contract to build a second container terminal in Abidjan, Ivory Coast’s commercial capital. The terminal should start operating next year as planned, Jakobsen said.

Maersk sales from Africa have been growing 5 percent to 6 percent a year, tracking the continent’s economic growth, and Jakobsen expects the trend to continue. Shipments of agricultural products, textiles and clothing are rising as the continent diversifies its trade away from raw materials, while more electronic and consumer goods are being imported as household incomes rise, he said.

“Africa is moving up in the value chain,” Jakobsen said. “People can now probably afford things they couldn’t earlier on. Underlying sentiment is positive. You are still seeing quite healthy growth.”

Access Bank has concluded plans to finance more projects in the nation’s oil and gas, power and other sectors of the economy this year. The resolve is based on the desire of the financial institutions to assist in stimulating the sustainable development of these and other sectors.

A top official of the Bank said, “As a leading financial institution, we are committed to funding feasible and viable projects and programmes in the energy and other sectors of the nation’s economy. We have already funded major projects and would continue to do so in the coming years because of our firm believe in the economy and the nation,” he said.

Specifically, the official maintained that, “Access Bank’s oil and gas group covers corporate customers in the downstream, midstream, and upstream segments of the Oil and Gas industry. The Bank has been very instrumental to the development of the Nigerian content in the oil and gas industry.”

As he puts it, “We offer funding and advisory support to key indigenous and multinational Oil and Gas companies in Nigeria. Access Bank is amongst the pioneer banks in Shell $5billion contract financing scheme and Mobil $1billion contract financing schemes aimed at enhancing Nigerian content.”

The Executive Director (OIL&GAS), Access Bank Plc Mr. Elias Igbinakenzua who provided much insight into the operations of the financial institution said only companies with good corporate governance would attract such funds. “As you know, Oil and Gas is our mainstay in Nigeria. It contributes over 90 per cent foreign exchange to our National revenue annually and it employs the bulk of our people. Any Bank that wants to encourage the industry, and add value to the economy must support Oil and Gas. So, as a bank we have been there for years from inception. We have encouraged players locally as well as the International Oil Companies (IOCs). It cuts across all the chains of Oil and Gas companies in the downstream, midstream and upstream,” he remarked.
Igbinakenzua said Access Bank is one of the well capitalised Nigerian banks that have the wherewithal to support the Nigerian oil and gas industry.

“In terms of governance; we have the right framework to access the risks, dimension them and know the extent to go. We have also been able to help our players to understand the risks and know how to perch against them. So, we are a core player and we think that as a key Nigerian stakeholder, we must play big in the Oil and Gas industry,” he maintained.

He remarked that Access Bank Plc recognises that good corporate governance is fundamental to earning and retaining the confidence and trust of its stakeholders. Igbinakenzua said, “It provides the structure through which the objectives of the Bank are set and the means of attaining those objectives. The Codes of Corporate Governance for Banks in Nigeria Post Consolidation issued by the Central Bank of Nigeria, the Securities and Exchange Commission’s Code of Best Practice and Access Bank’s Principles of Corporate Governance collectively provide the basis for promoting sound corporate governance in the Bank.

“A player cannot attract the bank’s attention if he does not have a structure that is observed and examined as transparent as well as operating in line with global best governance. So, we think that for our local players that want to grow big, they must embrace good governance. We have done that for a number of players. We have actually tried to make them to understand the need for governance. We have also called external parties to assist them to put the right structure in place and have good governance. This form of assistance by Access Bank has encouraged a good number of indigenous players. It is not about coming to borrow, but when they come to us, we help put to their companies to follow good steps as a player for the long run,” he added.

Igbinakenzua who expressed concerns about oil theft and other issues said, “Today, we have inefficiencies in the system and we can’t live and be okay with that. We want to identify what is making our production less efficient and see how we can team up and reduce inefficiencies. When we say oil is costing $15 per barrel to produce, we are talking about removing the associated costs responsible for the inefficiency such as the militancy in the Niger-Delta, the issue of down times and all that.”

He said, “If you look at the cost issue, Saudi Arabia is producing for less than $10 per barrel. Even Ghana here, the cost of production per barrel is not as high as the cost production of oil in Nigeria. So, a lot can be done. I am not blaming the oil company for what we have today but I am saying as a system we are still inefficient and we must work together to minimize inefficiency so that we can have a going concern that is sustainable.”
Recognising that the CBN had during the last quarter of 2014 issued a circular that Banks total loans for the oil and gas sector should not exceed 20per cent of their portfolio, Igbinakenzua said, “Before then, the policy was that a bank could finance 20per cent downstream, 20per cent midstream and 20per cent upstream. And because the circular was issued towards the end of the year, virtually all the banks could not comply with that policy.”

“The CBN had to suspend the policy for now. As a bank, you can lend 20per cent downstream, 20 per cent midstream and 20per cent upstream. The limited factor today is the bank’s single obligor limit. That is to say a bank cannot lend to one obligor, 3 per cent of the shareholder’s fund. And today! We have banks that have up to N500billion insured in the shareholders’ funds. So, they can lend up to a N100 billion if a particular bank so desire to lend to one obligor. That is why I am saying the banks have the capacity. The CBN two weeks ago said, Nigerian banks are well capitalized, that shows that Nigerian banks are actually strong enough to support the sector. We are ready, provided there is good governance,’ he emphasised.

Diamond Bank Plc has signed a Memorandum of Understanding (MoU) with technology giant, Samsung Electronics and Softcom Limited to provide a $100 million special Technology Intervention Fund. The fund, which aims at increasing technology adoption among universities in Nigeria, targets the educational sector.

This development is on the heels of the maiden edition of the Future Ready University Conference which will be hosted by Covenant University on the 10th and 11th of June.

The Future Ready University Conference is an annual technology for education event focused on showcasing to executives from 50 selected universities, a technology journey towards creating and managing a future ready university. It seeks to replicate the mobile learning program, already operational in Covenant University, to 40 Nigerian universities by giving them easy access to procuring the solution with fast-track bulk financing from Diamond Bank.

The mobile learning programme is a revolutionary portable mobile device bundled with EduSocial apps that allows students access to course materials, lecture notes, case studies and university libraries on the go. It also includes Samsung Knox for central management and policy enforcement in schools.

Speaking at a press briefing to announce the MoU, Uzoma Dozie, Group Managing Director/CEO, Diamond Bank Plc, said the Future Ready University program is a strategic initiative between Diamond Bank, Samsung Electronics and Softcom designed to promote technology adoption among universities, improve learning experience and boost the overall academic outcome of students in Nigeria.

An SA government tender to install 250 MW of wind generating capacity has been awarded to a consortium led by an Ireland-based wind and solar company.

The award was made under the fourth round of the government’s Renewable Energy Procurement Programme. The two wind farms represent an investment of about R5.9bn.

SA is committed to introducing green energy into its power mix, 95% of which is coal at the moment, to redress its chronic electricity shortages.

The projects awarded under this round are: the 140 MW Kangnas wind farm located in the Nama Khoi municipality in the Northern Cape, and the 110 MW Perdekraal East wind farm located in the Cape Winelands district and Witzenberg local municipalities of the Western Cape.

Mainstream Renewable Power is a global developer of renewable energy projects with a current output of 17 000 MW from solar and wind farms across Ireland, South Africa, Chile and Canada.

Mainstream Managing Director of onshore procurement, construction and operations Barry Lynch said in a statement that “renewable energy ticks three important boxes for South Africa’s energy needs. Firstly, the cost of these projects is now cheaper than new coal-fired generation.

“Secondly, they can be brought into commercial operation at the speed required and thirdly, they meet the scale needed to address the country’s growing electricity demand.”

Mainstream has been awarded a total of 848 MW of wind and solar projects under this programme since the first award in 2011.

The company is currently constructing three wind farms in the Northern Cape totalling 360 MW, which it was awarded under round 3 of the programme.

Last year the company delivered three wind and solar facilities into commercial operation under the first round of the programme.

Nigeria is seeking to make speedy inroad in the supply of stable electricity to her rural and semi-urban communities using renewable energy sources such as solar.

To this end, the federal government has embarked on a massive training of young Nigerians to install and maintain solar power facilities built under its Operation Light-up Rural Nigeria (OLRN), which aims at deploying solar technologies to address the power deficits in rural areas of the country.

In addition to the training on renewable energy technology, the government through the National Power Training Institute of Nigeria (NAPTIN) has also set up a training scheme for electricity meter technicians who are expected to be employed in meter installation and maintenance across the electricity distribution networks in the country.

Speaking at the recent inauguration of the two separate training schemes, Permanent Secretary in the Ministry of Power, Godknows Igali, stated that Nigeria’s power sector reform was hinged on exploiting the various sources of energy within the country.

Igali noted that because of constant abuse of the estimated electricity billing methodology of the Nigerian Electricity Regulatory Commission (NERC), the government decided to train technicians that will install meters, undertake their reading and detect instances of by-pass to ensure a smooth running of the power industry.

He noted that government will through the OLRN initiative push to see that rural and semi urban settlements in Nigeria that have challenges of stable power can augment whatever supply they get from the national grid using renewable energy sources.

“The power sector reform is hinged on utilisation of all the various sources of energy that God has given to Nigeria. If we are to maximise our energy mix, we won’t suffer so much of the impacts of vandalism, their impact will not be much on us because we will always have other alternatives to switch to. We must harness solar technology more than any other in this country,” Igali said.

On metering, he stated that: “Even when the light is not there, what people are meant to pay for is not commensurate to what they consume. And that brings a lot of anger among consumers who complain that they don’t get enough electricity but are billed very high.”

“This is as a result of the estimated billing system. For what they (power distribution companies) do is that they guess, based on the size of a house and approximate and charge you. So, the country is going to be embarking on a robust metering scheme.”

He added: “The federal government is involved in this and it is working with private companies in the sector. And that’s where you (trainees) come in, to ensure that the meters are properly installed and consumers are billed correctly.

You should be able to monitor electricity consumption as well as maintain the meters. So, where electricity theft occurs, you the person maintaining the meter should be able to know. And you should ensure that customers are properly billed because we have been relying on estimated billing. As much as about nine million consumers don’t have meters. The metering gap in Nigeria is about 60 per cent.”

Similarly, the Director General of NAPTIN, Reuben Okeke in his remarks stated that it was to curtail instances of job losses and unavailability of needed manpower in the OLRN initiative that the agency had to embark on the training scheme.

“Whenever there is no water because it is seasonal, we have deficit in generation and gas which is responsible for about 65 per cent of our generation is exposed to vandalism and from time to time some of the bad eggs among Nigerians vandalise gas pipes that take gas to power plants and so there must be an alternative source to mitigate this and complement what we are getting from gas or hydro and cannot be vandalised,” Okeke said.

He further explained: “As the government tries to encourage penetration through renewables, it is expected that there should be workers to do this and that is why the ministry instructed that we get young Nigerians to install and maintain such solar facilities.

It is a new aspect in our power generation and thus requires vigorous training. This is a unique aspect of craft that can create entrepreneurs within a very short time.”

He stated that anybody that is going to be involved with the installation of meters “must be someone who is trustworthy.”

By Margaret Nongo-Okojokwu

David Carroll, the incoming President of the International Gas Union (IGU), has shared the IGU’s belief that if world leaders are serious about their stated aim of managing global emissions and if they want to ensure affordable energy for a growing global population, then they need to enable the greater use of natural gas in the global energy mix. The IGU President said this at the just concluded World Gas Conference, WGC, which held in Paris, on the 1^st to 5^th June, 2015.

In his words: “Enhanced usage of natural gas is the single most effective way for the world to responsibly reduce emissions. Natural gas provides a proven solution that works in almost any application for all energy uses, is affordable and plentiful around the world.

“Of course COP21 is about carbon reduction, but enhanced gas usage will deliver reductions and materially address the very immediate health issue of air quality by virtually eliminating NOX and SOX pollutants and particulates that contribute to respiratory diseases such as asthma.

“We look forward to developing our position through the year and presenting our findings at what we hope will be a very successful COP 21 session. Our aim is to persuade the world to embrace enhanced natural gas usage, and understand that it is the most sensible option to not just reduce CO2 emissions but also enhance the lives of people across the globe today.”

The enhanced use of gas as a power generation fuel will help sovereign states meet their carbon targets. Former International Energy Agency Executive Director Nobuo Tanaka has stated that the target for the proportion of the energy mix to be covered by natural gas-fired thermal power plants by 2030 is 27%, if Japan wanted to curb its greenhouse gas emissions.

Enhanced use of gas will facilitate the development and greater deployment of renewable technologies. The inherent adaptability and complementary nature of gas allows it to be used alongside renewable energy sources by quickly responding to renewable generation output fluctuation.

Greater gas use promises significant reductions in emissions compared to other fossil fuels. The CO2 and other emission reductions when compared to either coal or oil burning systems will reduce air pollution and the consequent negative health impacts.

Reliability of supply for natural gas can be assured thanks to vast resource base. A growing global gas supply industry is evident around the world, with new supplies and liquidity provided by LNG providing more liquidity in all markets.

Enhanced gas use promises real economic & social benefits – greater usage and availability of natural gas will help diversify and strengthen industrial economies and empower developing societies. It can replace animal dung and firewood as a domestic fuel, liberating millions from the time and effort involved in collecting fuel for cooking.