Upstream Commission Moves To Eliminate Gas Flares
2 min read
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given signals on its readiness to work towards eliminating gas flares in all upstream operations across the country.
This indication was given by Mr Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, at the Nigerian Oil and Gas Opportunity Fair (NOGOF 2023), in Yenagoa, Bayelsa State,
He said the renewed disposition reflects the nation’s readiness to attract local and international investors in the oil and gas space.
Hear him: “The commission has intensified efforts to grow gas reserves, boost production and eliminate routine gas flares in all upstream operations across the value-chain, while also dealing with methane capture and other fugitive gas emissions.
“The significance of this is that more gas would be available for domestic utilization as Liquefied Petroleum Gas (LPG), feedstock for power generation plants, fertilizer plants and petrochemicals to mention but a few. Each of these areas shows that gas would truly be the catalyst and fuel for industralization as well as provide unique entry points for willing investors and opportunities to build capacity locally.”
Komolafe said the commission has embarked on the development of a regulatory framework for carbon-pricing system to make businesses pay for their emissions and incentivize emission reductions through carbon credits.
He noted that a new department called energy transition and carbon monetisation has been created in the commission to coordinate the drive towards energy transition in the Nigeria oil and gas sector.
“In order to deliver on her commitments towards reduction of carbon footprints, Nigeria has adopted gas as a transition fuel and expects to significantly increase gas consumption.
“This adoption of natural gas as a transition fuel is a boost for Nigeria which has over 208 trillion cubic feet (TCF) of gas reserves that can be harnessed to help the country’s transition to Net Zero by 2060 while driving economic growth and development, thereby simultaneously tackling energy poverty and meeting the climate ambition,” he said.
