{"id":185611,"date":"2022-05-06T07:00:22","date_gmt":"2022-05-06T06:00:22","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=185611"},"modified":"2022-05-06T07:00:22","modified_gmt":"2022-05-06T06:00:22","slug":"nigeria-has-domestic-gas-utilisation-and-energy-security-issues-says-nnpc","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/05\/06\/nigeria-has-domestic-gas-utilisation-and-energy-security-issues-says-nnpc\/","title":{"rendered":"Nigeria has domestic gas utilisation and energy security issues, says NNPC"},"content":{"rendered":"<p>The Nigerian National Petroleum Company (NNPC) Limited has stated that the country is faced with significant challenges in domestic gas utilisation and energy security.<\/p>\n<p>This was stated by\u00a0<span class=\"acssf62a8\">Margery Okadigbo, chairman of the <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/04\/14\/adulterated-petrol-no-sanctions-for-nnpc-importers-reps\/\">NNPC<\/a> board at the ongoing offshore technology conference (OTC) in Texas, United States, with the theme: \u201cEnergy transition and the future of Africa\u201d.<br \/>\n<\/span><\/p>\n<p><span class=\"acssf62a8\">Okadigbo said Nigeria requires significant investments in the oil and gas sector to accelerate its energy transition plan.<\/span><\/p>\n<p><span class=\"acssf62a8\">According to her, Nigeria\u2019s uptake of gas as a transition fuel was aimed at growing the economy and bridging the energy gap.<\/span><\/p>\n<p><span class=\"acssf62a8\">Okadigbo added that the increasing social and environmental pressures on many energy companies had raised questions regarding the role of oil and gas in a changing energy economy as well as the position of the companies in the societies they operate.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cThis is the topic that we have taken up in different energy fora and is consistent with our multi-layer consideration on the future of oil and gas and our transition plans,\u201d she said.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cAs the world transits to substituting energy sources for cleaner fuels, Nigeria is still faced with numerous challenges in ensuring energy security, deepening domestic gas utilisation, and maximising revenues derivable from hydrocarbon resources.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cWith the abundant oil and gas resources, Nigeria has chosen gas as the transition fuel to bridge the energy gap and create economic development.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cAs world leaders and businesses join in the global solidarity against climate change and reduction of carbon emissions, NNPC Ltd is taking giant strides in lowering her carbon footprint, sustaining energy security, and driving prosperity in Nigeria.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cWe believe that achieving and sustaining a carbon-neutral economy requires inclusive policy actions that guarantee access to finance and low carbon technology.\u201d<\/span><\/p>\n<p><span class=\"acssf62a8\">Okadigbo expressed optimism that the enactment of the Petroleum Industry Act (PIA) would guarantee reasonable returns on investments, promote business and operational transparency, and proffer better fiscal regimes.<\/span><\/p>\n<p><span class=\"acssf62a8\">\u201cIt is expected that much more significant changes in overall capital allocation would be required to accelerate energy transitions, especially getting some key capital-intensive clean energy technologies to reach maturity,\u201d she said.<\/span><\/p>\n<p><span class=\"acssf62a8\">She further urged participants to create and draw on the wealth of experiences at their disposal for realistic and responsible transition to cleaner energy.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigerian National Petroleum Company (NNPC) Limited has stated that the country is faced with significant challenges in domestic gas utilisation and energy security. This was stated by\u00a0Margery Okadigbo, chairman of the NNPC board at the ongoing offshore technology conference (OTC) in Texas, United States, with the theme: \u201cEnergy transition and the future of Africa\u201d. [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":120429,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[37011,37010,1193,15995],"class_list":["post-185611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-energy-security-issues","tag-margery-okadigbo","tag-nnpc","tag-petroleum-industry-act-pia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigeria has domestic gas utilisation and energy security issues, says NNPC<\/title>\n<meta name=\"description\" content=\"The Nigerian National Petroleum Company (NNPC) Limited has stated that the country 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