The Nigeria Liquefied Natural Gas (NLNG) Limited said yesterday that the company is already implementing studies on Carbon Capture, Usage, and Storage (CCUS), hydrogen electrification, and evaluating how they can support the nation’s energy transition journey as stakeholders advocate diversification of energy sources.
The reality of the Russia-Ukraine situation has prompted several countries and operators to look into potential in hydrogen and other renewable alternatives, even if Nigeria has recognized gas as a transitional energy source.
In addition, the business claimed that throughout its 21 years of operation, it has shipped more than 5,400 cargoes to clients all around the world. The corporation became recognized as a functioning business when its first cargo traveled from Bonny Island in Rivers State to France.
According to the NLNG, it is imperative to future-proof the gas industry through a sustainable strategy, particularly in light of current global issues and crises.
Olalekan Ogunleye, the deputy managing director of NLNG, said during a panel discussion on “Molecules and electrons: Managing the New Agenda for Growth” at the GASTECH exhibition and conference in Milan, Italy, that the company hopes to further increase its contribution to addressing energy security concerns with its expansion plan through the ongoing Train 7. Train 7 will add an additional eight million metric tonne annually or 30% additional capacity.”
“But more importantly, 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 decarbonisation. 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.
“We have developed and approved an energy transition roadmap that is robust, navigable and comprehensive, with specific milestones and 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 decarbonising all across our value chain. In terms of key learning, we have found an easy transition to be an opportunity to validate our business model, deepening digitalisation and creating 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 organisation”, he added.
The Chair of the Executive Committee, Oil and Gas Climate Initiative, OGCI, called for greater IOC participation in the net zero energy program as opposed to the over 60 companies recorded in a panel discussion titled “Short-term Results to Long-Term Commitments: How is the Energy Industry Changing the Net Zero Narratives?”
We are concentrating on a long-term aim in decarbonization, he stated. “I’m confident that oil and gas will have a stronger impact on the achievement of this objective. As we watch global emissions decline, we think that this objective should be tackled strategically.”
“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.”
Niek den Hollander, a member of Uniper’s Executive Board, agreed and said that even though these technologies are accessible, a greater focus should be placed on pricing to encourage greater involvement in the changeover.
