Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, has said the Brass Methanol Project’s Gas Sales Purchase Agreement will inject three billion dollars into Nigeria’s gas sector
Ekpo stated this at the National Association of Energy Correspondents Annual Strategic International Conference on Thursday in Lagos.
The News Agency of Nigeria (NAN) reports that the theme of the 2024 conference is: “Gas as Energy Transition Fuel: Navigating Nigeria’s Trilemma of Finance, Energy Security, and International Politics”.
He also noted the establishment of the Midstream and Downstream Gas Infrastructure Fund to address key financing gaps.
Ekpo stressed the necessity for a reliable energy supply for economic growth, citing recent successes in U.S., Nigeria energy cooperation.
“Key initiatives include U.S. technical assistance aimed at reducing methane emissions and a commitment of 75 million dollars to 85 million dollars from USAID for clean energy initiatives.
He emphasised the role of natural gas in shaping Nigeria’s sustainable energy landscape.
The minister represented by Abel Nsa, a Senior Technical Adviser, said that the event was on the future of Nigeria’s energy sector.
Ekpo praised the media for its influence in fostering transparency and accountability within the energy sector.
“Your work ensures that crucial energy information reaches the public, fostering informed discussions about our national energy challenges and opportunities,” he said.
He elaborated on the exploitation of natural gas to bridge immediate energy needs with long-term climate objectives.
The minister highlighted the potentials of gas on enhancing energy access, power industries, and improve living standards, while reducing carbon emissions.
He identified finance, energy security critical factors for navigating, and international politics as critical factors for navigation to Nigeria’s energy transition.
He highlighted Nigeria’s ambition to emerge as a global energy leader, particularly through the Nigeria-Morocco Gas Pipeline Project, which aims to diversify export routes and enhance regional energy security.
The minister shared achievements in the sector, adding that this include reductions in gas flaring and methane emissions as well as the inauguration of several new processing facilities.
He said that the compressed natural gas (CNG) and liquefied petroleum gas (LPG) initiatives should be viewed as vital components of the energy transition.
Ekpo reiterated the essential role of energy correspondents in connecting government actions with public understanding.
He called for redoubled collaboration to fully leverage natural gas potentials for sustainable economic growth to further strengthen Nigeria’s position on the global energy arena.
“Together, we must embrace the opportunities that lie ahead while addressing the challenges we face,” he said. (NAN)