Energy: Nigeria’s gas infrastructure offers investors huge opportunities: Kyari, NNPCL GCEO

*Mele Kyari, Group CEO of NNPC Limited, says the state oil company has signed several Memorandums of Understanding and development agreements for floating energy projects, stating the firm is also set to activate three mini LNG projects by August this year

Isola Moses | ConsumerConnect

As the Federal Government intensifies efforts at increasing gas utilisation among energy consumers in line with its “Decade of Gas” mantra, the Nigerian National Petroleum Company (NNPC) Limited has said, in past few years, Nigeria increased investment in the gas sector to ensure improved gas supply and utilisation.

Malam Mele Kyari, Group Chief Executive Officer (GCEO), stated this while speaking at the opening of the 2024 Africa Gas Innovation Summit (AGIS), organised by the Society of Petroleum Engineers (SPE), in Abuja, FCT.

ConsumerConnect reports the theme of this year’s summit of SPE is, “Igniting the Future: Driving Sustainability in Africa’s Energy Landscape Through Gas Technology and Innovation”.

Kyari said that the construction of gas pipelines, gas terminals and gas processing plants had presented huge opportunities for investors in the industry.

Represented on the occasion by Olalekan Ogunleye, Executive Vice President, Gas, Power and New Energies, Malam Kyari affirmed the NNPC Limited had made major investments in floating LNG and gas pipeline projects in the country.

NNPCL unveils 3 ground-breaking mini-LNG projects slated for August

“In order to accelerate gas commercialisation, bearing in mind that this is the era of gas, the NNPC has signed Memorandums of Understanding (MoUs) and development agreements for floating energy projects, which will be the first in Nigeria, while currently executing a 30 million scf per day small-scale mini-energy project.

“Indeed, we are currently participating in three mini LNG projects slated for ground breaking this August,” stated he.

The GCEO of the Company also noted: “NNPC is also currently leading the federal government’s auto-gas initiative.

“Aside from the recent commissioning of the 5.2mscf per-day Ilasamaja mother-station CNG plant, the GCEO of NNPC recently announced plans to take FID (final investment decision) within this year and roll out six additional CNG mother-station plants with similar capacity.”

On maximising $245bn gas infrastructure investment opportunities across Africa

In her presentation at the event, Amina Benkhadra, Director-General of the National Office for Hydrocarbons and Mines, Morocco, disclosed there is currently over $245 billion worth of investment opportunities for the provision of gas infrastructure across the African continent.

Benkhadra emphasised about $100 billion investments are needed annually to meet electricity demand on the African continent by 2030

She also disclosed the total investment required by the year 2050 also could reach $3 trillion.

Morocco, she said, would continue to work with Nigeria and other African countries to ensure the delivery of the Nigeria-Morocco Atlantic Gas Pipeline project estimated to cost over $25 billion.

Also speaking at the 2024 AGIS, Ekperikpe Ekpo, Honourable Minister of State for Petroleum Resources (Gas), said the government would continue to provide the enabling environment for private sector investment in the gas industry in Nigeria.

The Minister, represented by Nicholas Ella, Permanent Secretary of the Ministry, explained by embracing gas technology and innovation in the sector, and shaping effective policy frameworks, Nigeria could ignite the future and drive sustainability in Africa’s energy landscape.