In a resolute move towards environmental responsibility, NNPC Ltd. has declared its unwavering commitment to collaborate with international partners in the collective effort to reduce methane emissions within the oil and gas industry.
Amidst the bustling atmosphere of the United Nations Climate Change Conference, widely recognized as COP28, currently unfolding in Dubai, the Oil and Gas Decarbonization Charter has been unveiled.
This charter extends a call to action for the oil and gas sector, urging them to achieve the ambitious goal of net-zero emissions for their operations by 2050.
Additionally, it emphasizes commitments to attaining near-zero methane emissions and the cessation of routine flaring by the year 2030.
Addressing this pivotal development at a Panel Session themed “Accelerating the Elimination of Methane Emissions & the Decarbonisation of Oil & Gas,” Oritsemeyiwa Eyesan, the Executive Vice President, Upstream at NNPC Ltd., articulated the significance of the Charter not just for the company but for the entire African sub-region.
Eyesan emphasized the ethical and strategic imperative of the decarbonization initiative, acknowledging that Africa, despite contributing a modest three percent to global emissions, remains susceptible to the consequences of environmental degradation. She underscored NNPC Ltd.’s unwavering commitment to actively collaborate with stakeholders to ensure the effective realization of the Charter’s objectives.
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“Africa contributes three percent to emissions, but that does not exclude us from the consequences of the emissions. I think the decarbonisation drive and the charter are not just ethical but also a strategic imperative for a major African National Oil Company (NOC) like ours.
We believe this charter is an important one. We are committed to working with all stakeholders to deliver on that,” Eyesan affirmed.
Highlighting Nigeria’s role in the pursuit of near-zero methane emissions, Eyesan referenced the declaration of this decade as the “Decade of Gas.” This initiative is not only geared towards augmenting gas production for export but also towards fulfilling the energy needs of the local economy and the broader African sub-region.
“We assure you that we are open to working with our partners towards achieving zero-flare and methane emission reduction by 2030. This aligns seamlessly with our aspirations, and we consider it a feasible objective,” Eyesan declared.
Acknowledging the challenges ahead, Eyesan pinpointed finance and technology as pivotal hurdles in meeting the Charter’s provisions. She emphasized the necessity for African nations to collaborate with partners possessing the requisite technology and financial resources to address these challenges effectively.
In a bold move towards diversification and sustainability, Eyesan assured that NNPC Ltd. remains steadfast in expanding its portfolio of alternative energy sources. The company is committed to significant investments in solar, wind, and other renewable sources, showcasing its dedication to a greener and more sustainable future.
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