Nigeria’s Petroleum Minister, Timipre Sylva has restated that the country’s approach towards the climate-change-net-zero-emission debate is to optimise the use of its abundant gas resource domestically as a transition fuel.
The Minister reiterates the country’s stand in his address at the Society of Petroleum Engineers SPE’s Nigeria Annual International Conference & Exhibition, NAICE holding in Lagos.
According to him, utilising gas towards meeting the country’s national needs is its own contribute towards climate change.
“As a Government, we are determined to encourage more penetration of natural gas and its derivatives for domestic utilisation, power generation, gas-based industries and propulsion in all aspects of the national economy. This would in a fundamental manner address the great challenge posed by volatile oil market, the environmental issues and public health concerns”, he said.
Regarding the global oil market in the foreseeable years, Sylva said it is becoming obvious that a global migration from a fossil fuel-based economy to renewable would engender a corresponding decline in hydrocarbon, including possible divestiture in the sector as deliberate frameworks are being championed to discourage extraction of carbon-laden resources.
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