The Nigeria LNG (NLNG) Limited said the company has delivered over 5,000 LNG cargoes to its customers around the world since it commenced operation 21 years ago.
It also disclosed that it is evaluating how it can support Nigeria’s energy transition journey, adding that it’s already implementing studies on Carbon Capture, Usage and Storage (CCUS), hydrogen electrification.
Deputy managing director, NLNG, Olalekan Ogunleye, stated this while speaking during a panel on “Molecules and electrons: Managing the new agenda for growth”, at the GASTECH exhibition and conference in Milan, Italy.
He noted that with the current expansion plan through the ongoing Train 7, it will add eight million metric tonnes per annum or 30 percent to its existing capacity, with the hope to further increase its contribution to addressing the global energy security concerns.
Also Read: NCDMB, NLNG to Deepen Partnership on Projects, LPG Penetration
Speaking on the firm’s contribution to the energy transition, he said, “We’ve delivered over 5400 LNG cargoes safely and counting. As an enterprise, we have completely embraced energy transition. And there are many elements to that. There is a business necessity to that because our stated vision is to be a globally competitive energy company that is helping to build a better Nigeria.
“We cannot be globally competitive if we are not in touch with market dynamics and new realities, and if we are not embracing decarbonization. So, another important element is that we have integrated energy transition into our business at all levels. We have a Carbon Council that has been in place for over one year.
“We are also creating a green culture within the organisation by recasting energy transition in personnel channels. It is about job security and sustainability, future-proofing our business, and so all the members of staff can see the benefits in real concrete terms. These are great learnings and We also found that we cannot embark on this journey in a silo. We have got to reach out and touch base with what is going on globally.
Also Read: ‘Insecurity Has Cost Nigeria $7bn In Revenue This Year’ – NLNG
“We have developed and approved an energy transition roadmap that is robust, navigable and comprehensive, with specific milestones are short-term targets, mid-term and long-term targets with different deliverables and work plans in them. For us, it is all-encompassing.
“It’s not just the plant but also non-plant assets. We are revisiting our shipping assets and replacing steam engine ships with modern engines that are more environmentally compliant.
“We are gradually focusing on decarbonizing all across our value chain. In terms of key learning, we’ve found an easy transition to be an opportunity to validate our business model and deepen digitalization and create efficiency across our business. We also see that as an opportunity to create a new partnership, a relationship and to learn and to grow as an organization”, he added.
In another panelist session with the theme, “From short-term result to long-term commitments: How is the energy industry changing the net zero narratives?” the chairman of the board of NNPC Ltd, Senator Margret Okadigbo, insisted that opportunities abide in the development of gas for Nigeria and Africa.
She said, “Issues that concern energy should be addressed locally. For Nigeria, we are leveraging on the abundance of our Natural gas for transiting.
Also Read: NLNG Unveils Plans for Train 8 Project
“There is a need for more advocacy, investors, as well as collaboration to see this becoming a reality. Natural gas is going to be the driver for our energy transition as we are committed to the decarbonization vision.”
Also, the chair of the executive committee, Oil and Gas Climate Initiative, OGCI, Bjorn Otto Sverdrup, advocated increased participation of the IOCs in the net zero energy program as against the over 60 companies recorded.
“We are focusing on a long-term goal in de-carbonization. I am positive that oil and gas will play a bigger role in the actualization of this goal. We believe that this goal should be approached strategically as we stand on emissions being eroded from the world.
Also Read: Eni lifts ‘Force Majeure’ on Gas Export Feed to NLNG after Vandalisation of Pipeline
“It is a collaboration of all companies and I am happy that as of today more than 60 IOCs are onboard. Also, upgrades in technology have made this pursuit a reality as we hope that these technologies would be sold affordably to other developing countries,” he said.
On his part, executive board member, Uniper, Niek den Hollander, added that while these technologies are available, more emphasis on affordability should take the centre stage to drive more participation in the transition.
Vanguard
Be the first to know when we publish an update
