At Gastech Conference, Sylva, Okadigbo, Ahmed Make Case For More Oil & Gas Investments In Nigeria

The Minister of State for Petroleum Resources, Timipre Sylva, the Chair of the Board of the Nigerian National Petroleum Company Ltd, Margery Okadigbo; and the NNPC Group Executive Director Gas and Power, Mohammed Abdulkabir Ahmed; have advocated the need for more investments in the Nigeria’s oil and gas sector.

They said this would unlock Nigeria’s huge potentials as the country transits into the use of more cleaner energy sources.

They made their case for Nigeria’s energy sector at the second day of the Gastech 2022 conference holding in Milan, Italy.

At the conference, Nigeria was well represented by top officials of government.

Sylva who was a panel member in one of the sessions titled, “A Just Energy Transition for Developing Nations”event explained Nigeria’s perspective on the use of more cleaner energy.

He described the Petroleum Industry Act 2021 as a critical enabler for businesses in the oil and gas sector.

The Minister explained that the new legislation has provided attractive terms for investors’ participation in especially the nation’s gas sector.

The PIA was signed into law last year by President Muhammadu Buhari and it seeks to unlock huge investments in the oil and gas sector.

Also at the conference, Okadigbo participated in an Executive Leadership Roundtable which provided insights into the critical question “What Does It Take To Develop New LNG Supply?”

Similarly, the NNPC GED, Gas & Power was in the Global Business Leaders Panel which discussed “Bridging the Project Funding Gap in a Time of Geopolitical Uncertainty”.

In his submission, the Ahmed said funding is crucial to the development of gas and power investments, adding that its absence could affect the feedgas for LNG and other gas processing plants.

With the transition of the NNPC into a Limited Company, the focus of the current management led by the Group Chief Executive Officer, Mele Kyari in line with Nigeria’s quest for energy transitioning is to develop the country’s natural gas for the export market.

With attention shifting from fossil fuel to more cleaner energy sources, the NNPC Ltd is leading Nigeria’s drive for more investments that would unlock these energy sources.

With over 750 exhibitors, Gastech 2022 is expected to showcase new global products, solutions and technologies across the gas, liquyified natural gas, hydrogen and energy value chain.

ENDS