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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NUPRC INTERVIEW
The Russia-Ukraine crisis has opened new
opportunities for Nigeria to supply gas to
European Union countries and this
infrastructure will help us actualize this
objective. Currently, Nigeria provides
about 4.8% of the EU's natural gas needs
through LNG export by the Nigerian
Liquified Natural Gas Limited.
This contribution can be increased once
this pipeline comes on stream and will
reinforce bilateral cooperation between
Nigeria and the EU. The local economies
in Nigeria, Niger, and Algeria will also
benefit immensely from this project
t h ro u g h j o b c re ation, capacity
development, accessibility to gas, and an
increase in gas utilization facilities. We
expect that the EU will invest in gas
exploration and development in Nigeria
to ensure sufficient gas supply through
this pipeline to meet the EU's gas
demands.
TER: What is your analysis on the
opportunities in adopting new
technologies to improve the safety and
productivity of such pipeline
infrastructure in the region?
Michael: The NUPRC is open to
exploring new technologies that will
enhance the safety and value creation
of pipelines and other infrastructure.
We have a Technology Adaptation unit
in the organization which is saddled
with assessing novel oil and gas new
technologies for adoption in Nigeria,
monitoring the deployment of new
technologies across the oil and gas
project life cycle, and reviewing
research initiatives that reveal
opportunities to improve oil and gas
facilities' system design.
The wealth of experience and expertise
in this unit will be applied during the
engineering phase of the Trans-Saharan
gas pipeline to evaluate new
technologies that will ensure pipeline
integrity and security along the Right of
Way.
We will also leverage the successes of
the West African Gas Pipeline when
selecting technologies suitable for this
project.
Mckinsey & Company Projects Massive
Growth for Seplat Energy, Others
Seplat Energy Plc, leading Nigerian
independent energy company listed
on both the Nigerian Exchange
Limited and the London Stock Exchange, as
well as other energy producers in Africa, are
projected to grow more given the rising
demand for energy in Africa. Africa’s energy
demand is also expected to see increased
growth over the decade amidst current
realities.
Global management consulting firm,
Mackinsey & Company disclosed this at the
Seplat Industry Lecture and Dr. ABC Orjiako
send forth event held in Lagos at the
weekend.
“There will be rising demand for fossil fuels
in Africa driven by industrialization and
population growth. Energy demand growth
will be led by Nigeria, and this will create
tailwinds for energy suppliers like Seplat
Energy,” Oliver Onyekweli, Associate
Partner and Co-Lead of West Africa Oil and
Gas Practice, McKinsey & Company, said
whilst making a presentation on the theme
of the Lecture dubbed “The Future of
African Oil & Gas: Positioning for the Energy
Transition”.
“Africa’s growing energy demand also
creates opportunities for Seplat to explore
renewable energy solutions (e.g. solar, blue
hydrogen),” he added.
Decarbonizing production and cost
leadership, McMcKinsey explained, will be
key going forward as capital providers
continue to reduce exposure to oil and gas,
with customers preferencing lower carbon
shipments. Decarbonization of assets to
greatest possible extent, it added, will be
needed to maintain “license to operate”
and maintain access to capital at attractive
rates. “As global oil demand peaks,
maintaining cost leadership ($/bbl) will be
increasingly vital.”
Indigenous producers will define the future
of African oil and gas, as IOCs will continue
to face pressure to reduce carbon-intensive
operations and lower cost of production,
according to McKinsey, which also
maintained that divestment is likely to
continue.
“Companies like Seplat Energy are well
positioned to pick up producing assets going
forward, provided they can maintain
operational excellence. Ensuring continued
access to talent will be key,” it added.
McKinsey further explained that, “African
energy infrastructure is a compelling
opportunity. As the energy transition
accelerates, gas will become more
prominent as a “transition fuel”, especially
in Nigeria. Significant domestic gas demand
is a positive tailwind for Seplat Energy’s
ANOH project and gas’ cleaner carbon
profile (relative to diesel) should make gas
projects easier to finance (can be paired
with LPG). Investing in gas export
infrastructure (e.g. FLNG) could create an
opportunity to access high value
international spot market.”
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THE ENERGY REPUBLIC I SPECIAL EDITION