By Ayomide Otitoju
The Nigerian National Petroleum Company (NNPC) Limited has called for enhanced collaboration and transparency in the global energy sector’s efforts to phase out carbon emissions and achieve net-zero by 2050. Group CEO of NNPC Ltd, Mele Kyari, made this statement during a Strategic Panel Session titled “Decarbonising Operations across Upstream, Midstream and Downstream” at the ongoing Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC 2024) in the United Arab Emirates on Tuesday.
Kyari emphasized that achieving decarbonization goals requires more than just collaboration; transparency and openness are also critical. He argued that instead of vilifying lagging parties, the industry should focus on bridging the gaps between all stakeholders.
Represented by NNPC Ltd’s Executive Director, Upstream, Mrs. Oritsemeyiwa Eyesan, Kyari highlighted Africa’s unique challenge of balancing decarbonization with the need to combat energy poverty. To address this, he explained that Nigeria had made two significant policy shifts to support its decarbonization efforts: declaring the decade of gas as a transition fuel and removing fuel subsidies. These policies, Kyari noted, are integral to Nigeria’s decarbonization agenda.
As a signatory to the Oil & Gas Decarbonisation Charter (OGDC), Kyari reiterated Nigeria’s commitment to achieving gas flare-out by 2030, utilizing gas for automotive and power generation. He also noted that Nigeria holds significant gas reserves—up to 209 trillion cubic feet (tcf)—but has faced challenges in securing capital to fund gas projects. Kyari pointed out that international oil companies (IOCs) often focus on export gas, leaving a gap in financing for domestic projects.
“It is crucial that the global south, particularly less energy-endowed countries, are provided access to capital to tackle these pressing issues,” Kyari stressed.
Kyari further expressed concern over the global energy sector’s one-size-fits-all approach to decarbonization, noting that countries’ progress rates vary based on their individual circumstances. He called for continued support from the OGDC to ensure a level playing field for all parties involved.
Acknowledging the strong collaborative efforts in the decarbonization journey, Kyari cited the example of TotalEnergies, which has partnered with NNPC Ltd to implement methane measurement and detection technologies.
This year’s ADIPEC, the 40th edition of the event, is being held under the theme “Connecting Minds. Transforming Energy,” as global leaders in the energy sector continue to seek innovative solutions and collaborative approaches to accelerate the global energy transition.
