As stakeholders advocate for the diversification of energy sources, Nigeria Liquefied Natural Gas (NLNG) Limited announced yesterday that the company is already conducting studies on carbon capture, utilization, and storage (CCUS), hydrogen electrification, and determining how they can support the nation’s energy transition journey.
Although Nigeria has identified gas as a transitional energy, the Russia-Ukraine situation has encouraged several nations and operators to investigate prospects in hydrogen and other renewable alternatives.
In its 21 years of existence, the company reported delivering over 5,400 cargoes to customers around the globe. The first shipment of NLNG was shipped from Bonny Island in Rivers State to France, establishing the company as an operating entity.
The NLNG believes that future-proofing the gas industry through a sustainable strategy cannot be overlooked, especially in light of global concerns and crises.
During a panel on “Molecules and electrons: Managing the new agenda for growth” at the GASTECH exhibition and conference in Milan, Italy, the Deputy Managing Director of NLNG, Olalekan Ogunleye, explained that the company hopes to increase its contribution to addressing energy security concerns through its expansion plan through the ongoing Train 7, which will add eight million metric tonnes annually or 30 percent additional capacity.
“Most importantly, however, we’ve securely transported over 5,400 LNG cargoes and counting. We have fully embraced energy transition as a business. And there are numerous components to that. This is a business imperative, as our stated objective is to be a globally competitive energy company that contributes to the improvement of Nigeria.
“We cannot be globally competitive if we are out of touch with market trends and new realities and if we reject decarbonisation. Also crucial is the fact that we have integrated energy transition into all facets of our business. There has been a Carbon Council in operation for over a year.
“By recasting energy transition in personnel channels, we are also developing a green culture within the organization. It is about job stability and sustainability, as well as future-proofing our organization, so that all employees can see the tangible benefits. These are invaluable insights, and we have also discovered that we cannot go on this road in alone. We must reach out and connect with what is occurring globally.
“We have developed and approved a roadmap for the energy transition that is robust, navigable, and exhaustive, with specific milestones and short-term targets, mid-term and long-term targets, and various deliverables and work plans in each. For us, it is comprehensive. It includes both plant and non-plant assets. We are reevaluating our transportation assets and replacing ships powered by steam engines with more contemporary, environmentally compatible engines.
“We are progressively concentrating on decarbonizing our entire value chain. In terms of major learnings, we have discovered that a smooth transition affords us the chance to validate our business model, intensify digitalization, and create efficiencies throughout our organization. We also see this as an opportunity to forge new partnerships and relationships, as well as to develop and learn as an organization, he added.
In the meantime, in another panelist session titled “Short-term results to long-term commitments: How is the energy industry altering the net zero narratives?” panelists discussed how the energy industry is altering the net zero narratives.
“, the Chair of the Executive Committee of the Oil and Gas Climate Initiative, OGCI, argued for a greater participation of the IOCs in the net-zero energy program, as opposed to the more than 60 businesses that were previously recorded.
He stated, “We are concentrating on a long-term objective for decarbonization. I am confident that oil and gas will play a larger role in the achievement of this objective. We believe this objective should be tackled strategically as the world’s emissions continue to decline.
“It is a collaboration of all firms, and I am pleased that more than 60 IOCs have joined as of today. In addition, technological advancements have made this objective a reality, and we intend to sell these technologies to other developing nations at an affordable price.
In a similar vein, Niek den Hollander, a member of the Executive Board of Uniper, remarked that while these technologies are accessible, cost should take center stage in order to increase participation in the changeover.
