Breaking News
Translate

NNPC, Pan Ocean Oil score first in green house gas reduction

By Oscarline Onwuemenyi
ABUJA – NIGERIA ’S quest to ensure effective gas utilization received a major boost with the announcement that the gas utilization project at the Ovade_Ogharafe oil field in Delta state has been successfully registered under the United Nations Clean Development Mechanism (CDM) of the Kyoto Protocol.

A statement signed by the Media and Government Relations, Pan Ocean Oil Corporation, Mr. Eddy Skin, and made available to our correspondent in Abuja , the project is designed to reduce green house gas emission by more than two million tons of carbon dioxide annually

The CDM allows for green house gas emission reduction from projects in developing countries to be registered and monitored under the UN so that these reductions can be sold to developed countries that have emission limits.

Chairman of Pan Ocean Oil Corporation, an indigenous Oil and Gas Company and operators of the project, Chief Festus Fadeyi, stated that it is the largest CDM project in Africa and when at full capacity will provide 135 million standard cubic feet per day for electricity.

He said that this gas which otherwise would have been flared will be sold to developed countries to generate revenue for the country.   “The CDM registration has taken more than four years of efforts that were led by Carbon Limits of Norway. The credits will be sold to NUON, the Dutch state utility, so that the carbon emissions reductions that occur in Nigeria will help the Netherlands meet its obligation under the Kyoto Protocol,” he said.

Chief Fadeyi explained that the project has important local environmental benefits such as reduced emissions of dangerous gases like Nitrogen Oxides, NOx and Volatile Organic Compounds, VOCs.

According to him, this will improve the working conditions of the employees and the living standards of the nearby community.The project which is being run in conjunction with the Nigerian National Petroleum Corporation, NNPC has demonstrated that CDM can help achieve improved economics and financing for gas flare reductions.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.