July 25, 2024
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OIL & GAS RENEWABLE ENERGY

Africa In Need of Gas to Demands for Industrialisation

The demand for clean energy such as gas, is key to Africa’s industrialisation move. This was stated by NLNG’s Managing Director and Chief Executive Officer, Dr. Philip Mshelbila, who was represented by the Company’s Deputy Managing Director, Mr. Olakunle Osobu, on Day four of the 7th Nigeria International Energy Summit (NIES) in Abuja, Nigeria.

He explained that the potential for growth in Africa relies heavily on energy to provide the necessary amenities in line with the UN Sustainable Development Goals.

He stated that gas remains a viable revenue generation strategy, experiencing a surge in demand due to its role as a clean energy option and transition fuel, both in Africa and globally. He added that global demand is projected to increase to 5.1 trillion cubic meters by 2035.

He urged Africa, especially Nigeria to work towards attracting necessary investment to enhance the gas industry from exploration to production.

“Despite the gas potential in Nigeria, our country struggles with inadequate infrastructure to efficiently harness and distribute our gas resources. This infrastructure gap has not only hampered domestic energy growth and power generation but also the country’s ability to meet its export commitments, posing a tremendous risk to our viability as a reliable and competitive gas supplier,” he said.

He added that more investors, mean more availability of capital to enhance gas production in the nation. He revealed that the Nigerian government had in August 2022, estimated a yearly investment of $20 billion is required to bridge the gas infrastructure gap in Nigeria in the next 10 years.

He expressed hope that the country will put in more efforts to make the “gas decade” a reality. Dr. Mshelbila spoke during a special session tagged “The Gas Day” at the summit.

 

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