- Says FID on Nigeria-Morocco gas pipeline to be taken in December
Amidst increasing global calls for a transition to cleaner energy sources, Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) Ltd., has advocated for a nuanced approach to achieving energy transition across the African continent.
Speaking at a Leadership Dialogue Session during the ongoing CERAWeek Conference in Houston, United States, Mr. Kyari highlighted the complexities of energy transition, particularly in sub-Saharan Africa. He emphasized the imperative of addressing energy availability and security before embarking on transition efforts, noting that a significant portion of the population in the region lacks access to clean cooking fuels.
Mr. Kyari underscored the importance of gas as a transitional fuel, citing its affordability and the abundant gas resources in Nigeria. He outlined NNPC Ltd.’s commitment to enhancing gas infrastructure and emphasized the role of gas in facilitating the energy transition.
Highlighting the Nigeria-Morocco Gas Pipeline Project (NMGP), Mr. Kyari indicated that the Final Investment Decision (FID) for the project, estimated at $25 billion, is slated for December 2024. He positioned NNPC Ltd. as a pivotal player in Nigeria’s resource management and economic development, particularly following the Petroleum Industry Act (PIA) 2021 reforms.
Addressing challenges such as crude oil theft, Mr. Kyari affirmed the government’s efforts to combat such issues and restore crude oil production. He cited improved security measures and collaborative initiatives with private security agencies as contributing factors to production recovery.
The CERAWeek Conference, renowned as one of the largest energy gatherings globally, provides a platform for industry experts, corporate leaders, and policymakers to deliberate on the future of energy. With a focus on multidimensional energy transition, the 2024 conference aims to explore strategies for emissions reduction and the adoption of cleaner energy sources in response to evolving market dynamics and climate imperatives.
