Seplat Energy Plc, a foremost indigenous energy company, says Nigeria’s development will require significant improvements in access to energy, stressing lower-cost, more reliable energy will drive job creation, prosperity and social development and achievement of the United Nations’ Sustainable Development Goals (SDGs).
The Chief Executive Officer of Seplat Energy Plc, Roger Brown, said this while delivering the Keynote Address at the ongoing 42nd Nigerian Association of Petroleum Explorationists (NAPE) Annual Conference & Exhibition in Lagos.
Brown, who was represented by the Director of New Energy at Seplat Energy, Okey Mba, spoke on the Conference theme: Resolving the Nigerian Energy Trilemma: Energy Security, Sustainable Growth and Affordability, urging Nigeria to improve energy access and achieve a balance between equity, security and sustainability as the country faces the challenges of population growth and lack of economic and social development because of poor energy access.
“Nigeria’s development will require significant improvements in access to energy. With gas, significant development gains can be achieved with minimal impact on emissions. The country must transition away from reliance on biomass and oil as its primary sources of energy,” he stressed.
The Seplat Energy boss made a strong case for gas as Nigeria’s transition fuel; saying it is proven and accepted as a transition fuel in the developed North with large local resources in Africa (Nigeria having the largest) and multiple essential uses beyond power.
Brown explained that Nigeria’s abundant gas reserves offer a local solution to resolving the country’s energy trilemma; given that as gas is developed the reserves will likely grow materially. Nigeria has an estimated 209 Tcf of reserves which many experts believe is 2 to 3 times that amount.
“Nigeria’s estimated 40GW(plus) power generation sets could be displaced by cleaner, cheaper utility-scale gas and renewables. Every gigawatt (GW) of generator power displaced by cleaner utility-scale gas will decarbonise Nigeria’s energy system and reduce the cost of energy. Our industry must focus on end-to-end solutions to unlock the full value of Nigeria’s gas so we can resolve the energy trilemma,” he added.
Seplat Energy focuses on supporting more power generation, reducing emissions and creating new gas product lines with its joint venture investments to enhance capacity at the ANOH and Sapele gas plants.
Seplat’s JV investments in gas will deliver significant value for all stakeholders, as the company leverages new business lines in Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG), decarbonising its operations through reduced flaring and diesel replacement.
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