The Nigerian National Petroleum Company Ltd (NNPC Ltd.) has expressed its commitment to work with global partners toward reducing methane emissions in oil and gas operations.
Speaking on the development during a Panel Session titled, “Accelerating the Elimination of Methane Emissions & the Decarbonisation of Oil & Gas,” NNPC Ltd’s Executive Vice-President, Upstream, Mrs Oritsemeyiwa Eyesan, said the charter was a major opportunity not just for the NNPC Ltd., but for the African sub-region.
The Oil and Gas Decarbonization Charter was released on the sidelines of the ongoing United Nations Climate Change Conference, also known as COP28, in Dubai, the United Arab Emirates.
The Charter calls on the oil and gas sector to achieve the goal of reaching net-zero emissions for their operations by 2050. It also includes commitments to achieve near-zero methane emissions and no routine flaring by 2030.
“Africa contributes three percent to emissions, but that does not exclude us from the consequences of the emissions. I think the decarbonisation drive and the charter are not just ethical but also a strategic imperative for a major African National Oil Company (NOC) like ours.
“We believe this charter is an important one. We are committed to working with all stakeholders to deliver on that,” Eyesan said in a statement by Mr Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd.
She said to achieve its near-zero methane emissions, Nigeria has since declared this decade as a decade of gas, which is not only geared towards producing more gas for export but also towards producing gas for the local economy and the entire African sub-region.
“I assure you that we are open to working with our partners towards achieving zero-flare and methane emission reduction by 2030. This fits perfectly with our dreams, and we consider it achievable,” Eyesan told the panel.
She described finance and technology as the two major challenges in delivering on the charter’s provisions, noting that for the two problems to be solved, African countries need to work with partners who have the technology and finance.
Eyesan said NNPC Ltd remains committed to expanding its alternative energy sources through investment in solar, wind, and other renewable sources. (Persecondnews)
