Kyari: NNPC will deepen natural gas utilisation to reduce energy poverty

Mele Kyari, group managing director, Nigerian National Petroleum Company (NNPC) Limited, says Nigeria will adopt low-carbon technology, deepen natural gas utilisation and invest in clean energy to achieve carbon-neutrality.

Kyari disclosed this in the “2022 Global Energy Agenda Report” published by the Atlantic Council last week.

The Atlantic Council is a nonpartisan organisation working to shape solutions to global challenges. 

In his article titled “Perspective on Energy Transition”, he noted that the global oil industry had a key role to play in lowering the world’s carbon footprint as a means of fighting climate change.

“As a national oil company, we believe inclusive policy actions that guarantee access to finance and low-carbon technology are key to sustaining global energy security and equitable growth as the world transits to a carbon-neutral economy,” Kyari said.

“Our strategy for achieving carbon neutrality is centred around three principles: adoption of low carbon technology across our operations, deepening natural gas utilisation to reduce energy poverty, and investment in clean energy technology and products.”

He said these principles would most likely aid Nigeria’s transition to a carbon-free economy without compromising energy access — a requirement for ending energy poverty and supporting developmental goals.

“We believe these principles are most likely to support a smoother transition to a carbon-neutral economy without compromising access to the cheap and readily available energy resources that will be required to address energy poverty and support country-specific development priorities,” he said.

“Slowing down investment in hydrocarbon ventures may provide the right incentive for the energy transition, but it cannot guarantee global energy security in the near future, especially as energy demands grow faster than renewable energy maturation.”

The GMD canvassed the need for the world to adopt a more inclusive consensus, one that would consider complementarities and trade-offs between and within policies and policy objectives.

“As a commercially driven entity, we are leveraging the current industry dynamics to diversify and grow our portfolio in order to maintain relevance in the global energy market,” he added. 

“Additionally, we are reassessing the brown and green assets for our carbon budget and environmental credentials as part of our transition to an energy company of global excellence.”