SEPLAT Energy Plc has emphasized that gas development is a clear solution to Nigeria’s immediate energy challenge and remains a longer-term transition fuel.
The Director of New Energy at Seplat, Mr. Effiong Okon, made this statement during the Gas Stakeholders Conversation panel session at the recently concluded 2024 Nigeria International Energy Summit in Abuja. He stated that Nigeria’s greatest challenge is increasing the supply of reliable, affordable, and sustainable energy; nevertheless, gas is the logical transition fuel required.
He tied gas development to power, export of liquefied natural gas, production of compressed natural gas, production of fertilizers, production of liquefied petroleum gas, production of building materials, and more.
He stated that there is a severe shortage of housing and infrastructure, with no commercially viable replacement for the production of building materials such as cement, glass, and steel. Approximately 90,000 deaths are attributed to biomass cooking each year, and the increasing population underscores the urgent necessity to improve agricultural production. With gas, we can fund all of the above.
Okon emphasized the importance of the Nigerian energy sector prioritizing end-to-end solutions to fully leverage the value of Nigeria's gas. He highlighted that exploration, production, gas processing, and gas delivery to the final mile are crucial for maximizing the benefits of this resource.
To establish a sustainable gas development programme in Nigeria, the Seplat New Energy director highlighted the importance of bankability and access to low-cost capital; recommending the use of technology, the Internet of things, and smart metering to minimize aggregate technical commercial and collection losses.
He proposed using technology-enabled revenue delivery opportunities to help with fund collection.
At the NIES 2024 event, Seplat Energy received the Gas Infrastructure Project of the Year award, which was accepted by Okon for the company.
