The Energy Republic July Edition 2022
This magazine is a Special Edition focused on the NOG Conference and Exhibition 2022. The Nigeria oil and gas industry is undergoing a transformation following the recent policy enactment such as the Petroleum Industry Act (PIA) and ‘Decade of Gas Initiatives’ led by the Federal Government of Nigeria. This years’ NOG Conference features world-class conference programmes, including panel sessions to enable industry stakeholders, players and government discuss strategies in funding Nigerian energy mix going forward. In this edition, we featured an exclusive interview with H.E Chief Timipre Slyva, Honourable Minister of State for Petroleum Resources, including stakeholders and experts commentaries which are aligned based on the global trends in the energy, oil and gas industry. For general inquiries, please email us at: info@theenergyrepublic.com
This magazine is a Special Edition focused on the NOG Conference and Exhibition 2022. The Nigeria oil and gas industry is undergoing a transformation following the recent policy enactment such as the Petroleum Industry Act (PIA) and ‘Decade of Gas Initiatives’ led by the Federal Government of Nigeria. This years’ NOG Conference features world-class conference programmes, including panel sessions to enable industry stakeholders, players and government discuss strategies in funding Nigerian energy mix going forward.
In this edition, we featured an exclusive interview with H.E Chief Timipre Slyva, Honourable Minister of State for Petroleum Resources, including stakeholders and experts commentaries which are aligned based on the global trends in the energy, oil and gas industry.
For general inquiries, please email us at: info@theenergyrepublic.com
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NOG FEATURES
Liquefied Natural Gas (LNG) account for
the majority of export and it is expected
to increase from 32bcm to 41bcm by
2030. Pipeline gas exports were 0.8bcm
in 2019 and are likely to increase to
3.5bcm by 2030. The Nigerian gas
potentials are 10 times the potentials of
oil. Gas as a fuel source creates
enormous opportunities and products
that can be deployed which include gas
as an energy source, and gas as a
feedstock (Petrochemical). It can also
be used for the production of highvalue
fuels and chemicals such as
methanol, ethanol, gasoline, and diesel
oxygenated fuel blend.
To properly harsss these gas resources,
the NOG panelists stated that there is
need for partnerships across efficiency,
partnerships across financing, and
partnerships across security are
fundamental going forward.
In their words,
“
The recent marginal
field bid round will
help to increase the
country’s production
capacity,
adding that more bid rounds need to
follow.
“
The Federal Govt
should give special
consideration to
marginal field
operators while
sharing OPEC quota.
Government should back the industry
financially to stay afloat, rather than
watch companies, particularly
indigenous companies, struggle for
survival.
"Oil and gas companies should see their
host communities as partners in
business. There should be collaboration
among companies operating within the
same area to reduce operational cost.
"Oil and gas companies need to
increase their cash reserve and spend
Ed Ubong. President of the NGA and Managing Director of Shell Nigeria Gas
on only important elements around their
operations".
Speaking on ‘Developing the Domestic Gas
Market to Deepen Gas Utilization’ incountry,
they commented: "Pipeline
infrastructure is the key enabler for creating
market for gas. More investments are
needed in the area of infrastructure.
"Considering the current security situation
in the country, adequate attention is
needed in the area of security to accelerate
gas development in the country".
However the panelists explained that gas
supply constraints stands as one of the
major challenges facing power generation
companies and responsible for the drop in
power generation in the country.
They revealed that out of 160 licences
issued by the Nigerian Electricity Regulatory
Commission (NERC) to power generation
companies, only 25 are currently
operational.
Speaking further, the panelists urged the
Nigerian National Petroleum Corporation
(NNPC), which has 60 percent of JVs (Joint
Venture), to take up gas obligations for
power generation companies.
"There is currently lots of interest in the
upstream sub-sector on gas development in
the country and which presents a flexible
options for collaboration, which is creating
new businesses around the mid-stream.
“There is a huge market for gas in the
country. For the gas market to move from
what it is today to what it should be, there
should be a willing buyer- willing seller
scheme.
"The National Gas Flare Commercialization
Programme (NGFCP) will help to turn flared
gas to economic element that the country
will benefit from.
In an exclusive interview with The Energy
Republic, ED Ubong, Managing Director of
Shell Nigeria Gas, and President of
Nigerian Gas Association, further
explained that the market for Nigeria’s gas is
substantial both in the domestic and
exports market.
He hinted that The Nigerian Gas Association
is collaborating with the government and its
industry partners to unlock the potential in
the gas value chain and create an enabling
environment for the Nigerian gas sector to
thrive. This will yield lots of economic
opportunities.
"The NGA is working with its stakeholders
to accelerate gas sector development
across seven thematic areas: unlocking the
domestic gas to power value chain;
accelerating infrastructure development
including virtual pipelines; driving gasbased
industrialization; deepening
domestic LPG penetration, building a
stable regulatory environment anchored
on a willing buyer-willing seller pricing
regime; growing the export and regional
g a s m a r k e t , b u i l d i n g l o c a l
capacity/content for contractors and
professionals in the gas sector," he added
36
Funding The Nigerian
Mix For Sustainable Economic Growth
THE ENERGY REPUBLIC I SPECIAL EDITION