Managing Director of Nigeria LNG Limited (NLNG), Mr. Tony Attah, has said Nigeria must unleash its gas potential and support NLNG’s expansion programme, Train 7 project, in preparation for a world that is fast making efforts to reduce its fossil fuel consumption and minimise carbon footprints.
In a presentation titled “Global Energy Transition: Which Way Forward Nigeria?” at the 2nd West Africa International Petroleum Exhibition and Conference (WAIPEC) in Lagos, Attah said the global energy landscape was changing with major concerns for the environment, such as global warming, and increasing demand for cleaner energy.
He remarked that with reduced appetite for crude oil as a dependable source of energy, gas is the best option for Nigeria in the future.
“The best bet for Nigeria is gas. It is available in abundance and three times cleaner than oil in terms of carbon content. Nigeria has to begin to think about the relevance of oil in the future. Nigeria has to start to develop its gas resources in readiness for this future. Some critics say gas is not profitable but let me draw your attention to Qatar, a small fishing economy which was transformed from a GDP per capita of $2,000 in 1970 to a GDP per capita of $124, 000 in 2017 using gas,” Attah said.
“Gas can lift Nigeria, which is where NLNG comes in. NLNG is producing 22 Million Metric Tonnes Per Annum (MMTPA) but we are not resting on our oars. We want to construct a Train 7 that will increase our capacity to 30 million MTPA. It is time for gas. It is time to unleash Nigeria’s potential. That is how we can survive the future with increasing appetite for renewable energy,” Attah added.