The federal government plans to cut fugitive methane emissions from the oil and gas sector by 60 per cent.
This is coming as the world is fast moving to a carbon neutral future and as part of its Nationally Determined Contributions (NDCs) policy submitted to the United Nations Framework Convention on Climate Change (UNFCCC) ahead of the 26th Conference of Parties (COP26) summit in Glasgow, Scotland.
Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, made this known while presenting his paper at the National Association of Energy Correspondents of Nigeria (NAEC) Annual Conference 2023, held in Lagos, yesterday. The conference had as its theme: “Nigeria’s Energy Transition: Enhancing investment opportunities & addressing challenges in oil and gas sector.”
He explained that the government has also developed guidelines on the management of fugitive methane and Green House Gas (GHG) emissions in the upstream sector to drive the emission reduction and mitigations targets of the NDC, including the establishment of the Energy Transition and Carbon Monetisation Regulatory Unit within the Commission to drive the carbon monetisation efforts of the upstream sector relaunch of the Nigerian Gas Flare Commercialisation Programme (NGFCP).
According to Komolafe, the gas flare commercialisation programme was aimed at driving Nigeria’s target to end routine gas flaring by 2030 in support of the Nigeria Energy Transition Plan (ETP). He explained that said the programme would create value from previously wasted gas resources. The programme, initially launched in 2016, was relaunched by the Commission last year to aid in curbing the environmental menace of gas flaring while supplying gas to the rapidly growing market.
He said the various initiatives reeled out earlier highlighted deliberate actions taken by the commission in this regard. These initiatives, he said, were geared towards unlocking the full potentials of Nigeria’s upstream petroleum sector, for which the country has begun reaping the rewards.
THE NATION