The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced its ambitious plan to boost natural gas production in the country from 8.0 billion cubic feet per day (bcfd) in 2020 to 12.2 bcfd by 2030 through strategic gas development efforts.
Engr Gbenga Komolafe, the CEO of NUPRC, shared the commission’s vision during the 2023 Nigeria Annual International Conference and Exhibition (NAICE) held recently.
With a strong focus on cleaner hydrocarbon development, optimized gas production, domestic gas utilization, flare elimination, and monetization, NUPRC is committed to driving investment in the gas sector in line with the provisions of the Petroleum Industry Act (PIA) of 2021.
Highlighting the significance of the Decade of Gas programme, Komolafe stressed that NUPRC aims to leverage gas as a pivotal driver for industrial development and economic growth in Nigeria.
The commission is actively pursuing major projects such as the NLNG Train 7 & Train 8, Nigeria/Morocco pipeline, and the Ajaokuta-Kaduna-Kano (AKK) Natural Gas Pipeline Project, which are instrumental in achieving the energy trilemma of accessibility, affordability, and sustainability.
In addition to these projects, the NUPRC CEO emphasized that the PIA has accelerated other key imperatives, including hydrocarbon value optimization, greenfield development, peaceful coexistence with host communities, cost monitoring, benchmarking, and decarbonization. These measures are designed to ensure energy security and sustainability in Nigeria.
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Looking ahead, NUPRC is set to organize the Maiden Nigerian Upstream International Investment and Financial Roadshow (NUIIFR) in response to the growing calls for transitioning from fossil fuel projects to green initiatives.
The roadshow will serve as a platform for new asset awardees and industry players to network, exchange ideas, and explore innovative financing structures to facilitate investments in the energy sector.
With the establishment of the Energy Transition and Carbon Monetization Department, NUPRC is actively enforcing the regulatory framework for decarbonizing upstream operations, aligning with the global push for sustainable energy practices.
Komolafe underscored the immense potential for Africa, and specifically Nigeria, to harness its vast array of natural and human resources to address the energy gap, stimulate economic growth, and foster prosperity.
The NUPRC CEO reiterated the country’s commitment to achieving shared prosperity, energy accessibility, affordability, sustainability, security, independence, and sovereignty through the Nigeria Energy Transition Plan.
While embracing the goal of reaching Net Zero emissions by 2060, Nigeria will continue leveraging its oil and gas resources to meet energy needs, support economic development, and pave the way for a sustainable and prosperous future.
The NUPRC’s vision for increasing natural gas production and transitioning towards sustainable energy practices reflects the nation’s determination to play a pivotal role in global energy security and contribute to a greener and more sustainable future.
