Monetizing Nigeria’s gas: Experts to seek best options

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OilandPower South-Sudan  2020

“As the largest holder of proven natural gas reserves in Africa, and the ninth-largest holder in the world, Nigeria has an incredible role to play in the development and monetization of natural gas on the entire African continent. Despite these incredible gas reserves, however, Nigeria has long struggled to harness its gas potential, with consistent flaring and underdeveloped reserves. With 55 percent of Nigerians lacking access to electricity, the time to get serious about gas-to-power is now.” This was James Chester, Acting CEO of Africa Oil and Power speaking on the heels of the inaugural Nigeria oil, gas and power summit with focus on the path forward for Africa’s largest economy post covid -19, gas monetization and power generation, to be launched in Lagos, October 26th through to 27th 2021.

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With the huge potential for gas-to-power, LNG and downstream diversification possibilities, and with transparency taking its ideal place in the governance space, the aim of powering Nigeria’s economy in the short and long-term would have been made easier. For Wilfred Grentell once said that nothing shall be impossible when a people faces a task with a resolution to solve it.

As a year of gas according Nigeria’s Minister of State for Petroleum, NOGP 2021 will seek, among others, to bring gas and power generation to the forefront of the conversation as a solution for economic development and diversification, job creation, as well as building infrastructure for a sustainable future for all Africans. It will also highlight the marginal fields licensing round held in 2020, as well as bring to the table new entrants into the market place. The meeting will as well provide a platform for both indigenous and international companies alike who seek financing and survival strategies to combat low oil prices.

“The conference will welcome investors from China, India, the US, the Americas and Europe who are looking for bankable projects and partners in Nigeria and across the continent. Those investors want to get deals done,” Chester said.

The meeting also intends to host leaders in the international energy industry, government officials and key players in the Nigerian energy industry, investors and stakeholders for three days of busy networking, deal-making, training and vital discussions on the future of the energy sector and the Nigerian economy.

“Nigeria”, says Kelly Mealia, Chairperson of Africa Oil and Power “has a long history in the petroleum sector but we look forward to highlighting and celebrating women in energy.” As panel discussions, presentations and debates will highlight the reorganization and de-risking of Nigeria’s power generation sector; opportunities in renewables; flaring and upstream opportunities in gas; gas monetization strategies, downstream diversification, and capacity-building.

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