NLNG converts over 80 Tcf of flare gas to economic value
Sopuruchi Onwuka
Africa’s largest liquefied natural gas exporter, the Nigerian LNG Limited, has led the country’s flare gas commercialization with harnessing and monetizing over 80 trillion cubic feet of gas to generate billions of dollars, thousands of jobs and innumerable business opportunities that stimulate domestic productivity.
Managing Director, Dr Phillip Mshelbila, declared at the grand award night hosted by the company to mark its 35 years of incorporation and 25 years of operations that the company’s business proposition has by default positioned natural gas as the fuel for energy transition.
He said that natural gas has remained and would remain the energy product with potential to address envisaged surge in energy demand as the global population continued to grow and propel urbanization.
Then Oracle Today reports that the company also launched a new logo to redefine its priorities in the face of changing social, political and economic dynamics that pose uncertainty for the future.
Dr Mshelbila pointed at the importance of demographic changes as the global population is projected to reach 9.0 billion in 25 years. He also noted that Africa which currently suffers the highest rate of energy poverty would become the second most populous continent in the globe.
“As urbanization and industrialization drive energy demand, investments in cleaner, affordable energy are essential to ensure a balanced transition,” he explained, adding that natural gas holds critical role in bridging the energy gap.
“Natural gas, being the cleanest fossil fuel will remain vital in the global energy mix during the transition to sustainable alternatives. Between 1999 and 2023, NLNG converted over 80 trillion cubic feet of gas that would have been flared, transforming it into value for Nigeria and our stakeholders,” he told the high profile guests at the event.
He made it clear that providing adequate energy for youths in Nigeria and Africa has become critical in the face of the dynamics imposed by energy transition, adding that taking actions to shape the future also entails harnessing the opportunities of having young population.
With Nigeria poised to become the third-most populous country, the absence of a strategic plan to harness this youth population could turn a demographic opportunity into a burden, he noted.
He said that education has become critical in transforming the young generation of the nation into assets, and called for industry partnership with the government to drive investments in education in order to equip the youths with the requisite skills and knowledge.
He declared that the company has, as part of its 35th and 25th anniversaries, launched unique undergraduate and postgraduate scholarship opportunities for host communities. The programme, he said, reinforces the company’s commitment to future generations.
According to him, the initiative aims to provide a lifeline to students and enable them unlock opportunities that shape their future.
