The Minister of State Petroleum Resources, Chief Timipre Sylva has said that Nigeria’s plan to transition to cleaner energy would be powered by its abundant natural gas resources.
Chief Sylva who stated this in Abuja on Thursday at the Nigeria-Africa natural resource and energy summit said energy transition is about providing clean energy, and not about discriminating between energy sources.
He explained that it was important that every country was able to come up with a pathway that ensures energy security for its people.
According to him, “In the face of the current high level of energy poverty worldwide, especially in Africa, all energy sources will be required to achieve the sustainable development goal of providing access to affordable, reliable, sustainable and modern energy for all.
“It is evident that this goal cannot be achieved by renewable energy sources alone. All available energy sources should be considered, while available technologies, like the carbon capture, utilization and storage (CCUS), should be employed to make them cleaner.
“Oil and gas will remain important components of the global energy mix for decades to come. They will continue to be needed and essential for propelling global socio-economic development, especially in energy poor countries, mostly in Africa, specifically sub-Saharan Africa. Fossil fuel, used with appropriate technologies, should be a part of the solution to climate change in energy-poor countries”.
He pointed out that “Nigeria is following a transition pathway that combines technology, investment, business strategies, and government policy that will enable Nigeria to transit from its current energy system to a low-carbon energy system with natural gas playing a pivotal role.
“Nigeria needs affordable, reliable and sustainable energy resources to eradicate the prevalent energy poverty in the shortest time possible, and propel economic growth. The only viable option currently on the table is natural gas, considering our vast proven gas endowments, put at 209 tcf,with 600 tcf potential reserves. We cannot ignore this resource, especially when energy poverty is viciously staring at us”.