Oil & Gas
THE Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has identified the Nigerian Gas Flare Commercialisation Programme (NGFCP) 2022 as one of the critical pathways to achieving Net Zero Carbon Emission.
The Commission’s Chief Executive, Mr Gbenga Komolafe, said this at its Investors’ Forum on Wednesday in Abuja.
The forum was convened to bring flare site awardees, technology providers and financiers together for the goal of eliminating flared gas and improving environmental sustainability.
The programme was launched as a strategic initiative by the Nigerian government with the primary goal of eliminating gas flaring through economically viable solutions, transforming a wasteful environmental challenge into a substantial economic opportunity.
Through this programme, flare gas sites are awarded to competent third-party companies that are to harness this resource for value derivation.
Komolafe, in his keynote address titled, “One Goal – One Team,” said Nigeria developed an actionable roadmap called the Nigeria Energy Transition Plan, to midwife the nation’s journey towards Net Zero Carbon emissions.
He expressed the commission’s commitment to the successful execution of the NGFCP to actualise the attainment of Nigeria’s pledge to end routine gas flaring within this decade and contribute to the reduction of global emissions.
He said the opportunity would enable captured flared gas to be used for electricity generation, fertiliser and methanol production and feedstock for local industries.
He said, these, in addition to improving host community relations, environmental sustainability, building local content capacity, creating employment opportunities, and encouraging increased capital inflow to the sector were some of the benefits of the programme to the country.
“Through the NGFCP, the barrier to entry into our complex industry is lowered for many proven small and medium scale local and international players.
“We have chosen the theme “One Goal – One Team” for this forum to represent our unified commitment to decarbonisation and achieving net zero emissions.
“As we gather here, we are aligned not just in our investment goals but in a powerful collaboration aimed at turning Nigeria’s COPs 26, 27 and 28 commitments into actionable, sustainable outcomes.
“Let us leverage our collective strengths, foster strategic synergies, and advance with a unified vision towards a decarbonised, net zero future, in line with the objectives set at the UN Climate Change Conference,” he said.
He explained that the projects did not only align with international environmental standards by significantly reducing greenhouse gas emissions but also reinforced global commitments to sustainability and climate resilience.
Komolafe expressed assurance that due diligence had been carried out on all award holders and remarkable progress had been made to ensure that proposed projects would achieve measurable success.
“Investors can, therefore, be assured that the NGFCP 2022 will be conducted satisfactorily in line with statutory provisions,” he said. (NAN)
F.A
April 18, 2024 @10:47 GMT
Tags: Gas Flare net Zero Carbon
