Connect with us

Energy

Global energy demand to increase by 23% to 2045 — OPEC

Published

on

The Organisation of Petroleum Exporting Countries (OPEC) says global primary energy demand is forecast to increase by 23 per cent in the period to 2045, which necessitates utilising all forms of energy.

The OPEC said based on its World Oil Outlook (WOO) forecast, resultantly, many of its Member Countries had invested heavily in renewables, which had received a positive endorsement from the G20 developing nations.

OPEC Secretary-General Haitham Al Ghais, made this known in Abuja on Monday at the sixth edition of the Nigeria International Energy Summit (NIES 20223) with the theme: “Global Perspectives for a Sustainable Energy Future.”

The summit, scheduled to hold from April 16 to April 20, was declared open at the Presidential Banquet Hall by President Muhammadu Buhari through the Secretary to the Government of the Federation, Mr Boss Mustapha.

Al Ghais listed the renewables as solar, nuclear, wind and waste-to-energy power, in addition to Carbon Capture Utilisation and Storage (CCUS) and hydrogen projects, as well as the Circular Carbon Economy.

“At OPEC, we recognise that the scope of the climate challenge requires comprehensive solutions. There is no panacea that can solve it alone.

“The oil and gas industry can foster its resources and expertise and help unlock our emissions-free future, through its role as a powerful innovator in developing cleaner and more efficient technological solutions.

“A diverse range of mitigation measures are necessary. The capacities and national circumstances of developing countries must be taken into account in all actions. We should never forget that climate change and sustainable development are two sides of the same coin,” he said.

He said that OPEC, as an intergovernmental organisation, composed exclusively of developing countries, seven of which are African, would want all voices included in discussions on energy transitions.

He said it had been directly involved in the evolution of the United Nations Framework Convention on Climate Change (UNFCCC), from the UN Intergovernmental Negotiating Committee in 1990, to COP27 in Sharm El-Sheikh in 2022.

“We are delighted that COP28 will be hosted by our Member Country, the United Arab Emirates.

“In addition to being involved in climate negotiations, OPEC and its Member Countries are proactive in looking for a diverse range of energy sources to meet the needs of the future,” he said.

The Secretary-General further said that the global oil sector alone would need cumulative investment of $12.1 trillion  through to 2045.

However, he said in recent years, it had heard calls from some to limit or stop funding for new oil and gas projects which was disheartening, and particularly impactful on developing countries with oil and gas resources.

“This great continent, Africa, has 120 billion barrels of proven oil reserves and 18 trillion standard cubic metres of natural gas.

“For countries to properly utilise these resources for the benefit of their people, investment levels must be adequate, whilst taking actions to reduce the carbon footprint of the oil industry.

“However, movements by financial institutions to limit and stringently control how money is invested into fossil fuels under environmental, social and governance (ESG) constraints impedes the realisation of this potential.”

Al Ghais, while commending President Muhammadu Buhari for being a strong supporter of OPEC, also looked forward to a continued cooperation with the incoming administration led by President Elect, Sen. Bola Tinubu.

Energy

Shell signs agreement to build gas pipelines in Oyo State

Published

on

Shell Nigeria Gas, SNG, and the Oyo State Government have signed an agreement to develop a gas supply and distribution infrastructure that will deliver gas to industrial and commercial users in the state.

A statement released on Friday by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, disclosed that SNG will build and operate the gas distribution network, which will serve customers across Oyo State for 20 years.

According to the statement, the project will start with the construction of gas distribution infrastructure along a 15km pipeline route, adding that it will grow to deliver up to 60 million standard cubic feet of gas per day across the state.

Speaking at the signing ceremony, the Oyo State Governor Seyi Makinde, described the project as a catalyst for development in the state.

The Managing Director of SNG, Ralph Gbobo, noted that the agreement was “a significant milestone for SNG and Oyo State to boost economic activities in Nigeria by supplying industries and manufacturers with natural gas, a more reliable, cost-efficient and environmentally friendly source of energy.”.

He explained that the project would boost Oyo State’s internal revenue and create Job opportunities for indigenes.“

“The Managing Director of The Shell Petroleum Development Company of Nigeria Limited and Chairman, Shell Companies in Nigeria, Osagie Okunbor, remarked that the event pointed to the value of partnership as “Shell continues to power progress” in Nigeria through more and cleaner energy solutions for commercial and industrial customers.

Continue Reading

Energy

Nigeria ripe for nuclear power to boost electricity generation – NAEC 

Published

on

The Nigeria Atomic Energy Commission (NAEC) in collaboration with Centre for Energy Research and Training (CERT), Ahmadu Bello University (ABU), Zaria would deploy nuclear science and technology to strengthen electric power generation in Nigeria.

Prof. Yusuf-Aminu Ahmed, Chairman NAEC disclosed this during the 20th Anniversary Symposium of the Nigeria’s first Nuclear Research Reactor-1 (NNR-1) in Zaria on Thursday.

Ahmed said the experience developed over the years on nuclear power at the centre makes Nigeria ripe and ready to go into the next level of power generation through the nuclear reactor.

“We have used the reactor for research and development over the years and now we are going to use the reactor for the purpose of generating electricity.

“President Bola Tinubu has already given the commission a mandate to see how it contributes in the clean energy sphere of Nigeria and the nuclear energy programme of Nigeria would participate,’’ Ahmed said.

He explained that the time for the project would not be open for the public; however, Ahmed added that international partners and vendors were working closely with the commission over the project.

He also said that intergovernmental agreements were signed with some of the vendors on the nuclear power in Nigeria and very soon President Tinubu would make an announcement on the issue.

Earlier, Sen. George Akume, Secretary to the Government of the Federation said the 20 years of safe operation of the nuclear research reactor was an indication that Nigeria has joined the campaign for safe application of nuclear energy.

Akume, represented by his Special Assistant on Technical Issues, Prof. Bolaji Babatunde, added that since the centre had safely operated the nuclear research reactor for 20 years, it can also obtain a nuclear reactor for electricity generation.

According to him, the process of having a reactor that would generate electricity is similar to operating a nuclear research reactor.

“President Tinubu has re-echoed the need for having nuclear energy into the sources of electric power generation in Nigeria and Nigerians should look forward to this power.

“Electricity generated through nuclear energy is clean and safe except for human errors or natural causes such as the one that happened in Hiroshima,’’ he said.

Earlier, Prof. Sunday Jonah, Director of the center said the event was to celebrate 20 years of safe operation, maintenance and utilisation of the first Nuclear Research Reactor code named NNR-1.

However, in spite of the numerous gains at the centre over the years, the Director lamented over a plot by NAEC to wrestle the centre from the university through the proposed NAEC Bill 2022.

He explained that such a move would negate the dreams of the founding fathers that established the centre in universities because of the culture of research and development being promoted at designated universities.

Continue Reading

Energy

Alake unveils gender strategy for mining, steel sector

Published

on

The Minister of Solid Minerals Development, Dr Dele Alake, has unveiled a document for Women in Mining in Nigeria (WIMIN) strategy document.

Speaking at the event, he described the strategy as a significant mile stone in the sector.

He said that the move was a demonstration of the commitment of the Ministry of Solid Minerals Development (MSMD)‘ and Ministry of Steel Development in fostering diversity.

He said that the strategy is aimed at promoting gender equality and women‘s empowerment, adding that its focused on driving productivity for the nations‘ sustainable development.

“It also focuses on improving the opportunities for women to benefit from both sectors sustainably in policy, regulatory, operational, and commercial (large scale, medium scale, small scale, and artisanal levels), and value and supply chain roles.

“This strategy is not just a document but a call to action and a blueprint for all stakeholders to create a more inclusive and gender-balanced mining and steel sector.

“It provides a guideline and framework to guide both ministries, their agencies, and stakeholders to integrate gender equality and women’s empowerment priorities in their policies, programmes, and initiatives,” he said.

He acknowledged the indispensable contributions of women to the success and sustainability of the mining sector, saying that their talents, expertise, and perspectives are critical to the success and growth of the industry.

According to him, Nigeria is not immune from the biases perpetuated against women in these two sectors.

In addressing the situation, he said that the Federal Government has prioritised gender equity and female participation in its “Roadmap for the Growth and Development of the Nigerian Mining Industry.”

He said as part of the efforts of MSMD and Ministry of Steel Development to implement the roadmap, the Mineral Sector Support for Economic Diversification (MinDiver) engaged a consultancy to develop the gender strategy.

He said that to achieve the objectives of the strategy, its institutional capacity would be strengthened for effective gender mainstreaming.

He added that that women’s participation in leadership and governance roles within the mining sector and communities would be increased.

“Promoting women’s economic empowerment and rights and eliminating all barriers (structural and systemic) that hinder women’s meaningful participation, access and control over mining resources and benefits,” he said.

The Minister added that they were committed to building partnerships across a wide range of stakeholders in achieving the vision of the strategy.

He said that the WIMIN strategy was firmly rooted in the principles of equality, diversity, and empowerment, and  a call to action for stakeholders mobilisation toward a more inclusive and gender-balanced industry.

Earlier in her remarks, the National President of WIMIN, Dr Janet Adeyemi, described the launch of the strategy as an opportunity to galvanise support and implement actions to address the entrenched gender disparities within the mining and steel sectors.

Represented by the National Secretary, Mrs Emily Ofodile, she said that women within these industries continue to encounter multifaceted barriers that hinder their full participation and advancement.

On her part, the Permanent Secretary of MSMD, Dr Mary Ogbe, urged, women to be change agents at all levels, and urged all organisations to have gender focal persons to help in coordinating all related matters.

Continue Reading

Trending