GAS IS OUR TRANSITION FUEL- AFRICAN PETROLEUM PRODUCERS 29-02-24
By Sadiq Aminu African Petroleum Producers say they have adopted Gas as their preferred Energy transition option.
The Secretary General of the African Petroleum Producers Organization Dr. Omar Ibrahim at the 7th Nigeria International Energy Summit in Abuja, explained that the continent needed to create its local Market to address the challenges of funding.
Globally, there have been calls to move from Fossil to renewable energy by experts but in Africa, there is the argument that only 4% of the continents green house gasses is responsible for heating up the atmosphere.
The Secretary General of the African Petroleum Producers Organization, Dr. Omar Ibrahim therefore affirmed that despite the global acceptance of the energy paradigm shift from Fossil to renewable energy, it was determined to embrace an energy mix to guarantee the energy security of the continent.
Dr. Omar highlighted the challenges of Africa Energy transition to include Funding, Technology and Markets, and called on Africa Academia to proffer smart and innovative solutions to the continents Energy Security concerns.
“Africa is not responsible for the legacy emissions which have been responsible for polluting the atmosphere, we have aboundant energy reserves and we will use them to also industrialise our continent.”
He revealed that the decision for the host country for the Africa Energy Bank a subject which dominated conversations at the summit, will be made by the end of March this year, establishment of the Africa Energy Bank
The federal government also restated its decision to define its terms on energy transition.
Minister of State Petroleum Resources (Oil), Sen.Heineken Lokpobiri, stated this in his address at the panel session, The Minister assured that Nigeria was not against transition but would transit in a more environmentally friendly and sustainable way.
“You can never find any better climate for oil businesses than Nigeria”, he noted.
Lokpobiri reiterated the resolve of the government to provide support and create the enabling environment for oil companies and businesses to thrive.
Also, in his remarks, the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo restated the adoption of Gas by the federal government as its transition fuel.
General Manager, Finance, Nigeria Liquified Natural Gas, Fatima Adanan said the company was producing gas for local consumption but had a deficit of metric tonnes to meet up demand.
Panelists from South Africa, Namibia and Gambia said the adoption of energy mix to ensure energy security and sustainability.