Seplat Petroleum Development Company Plc, an indigenous energy company, has identified its fast growing gas business as a strong catalyst for sustainable development in Nigeria.
Mr. Roger Brown, Chief Executive Officer, SEPLAT, described the drive as a revolution, indicating that the direction is laudable and highly rewarding to Nigerian people and the economy at large.
Brown said this at the Nigerian Gas Association (NGA) Industry Multilogues 2, its 12th biennial International Conference themed: “Powering Forward: Enabling Nigeria’s Industrialisation via Gas” held virtually.
Meanwhile, the company has been honoured with the NGA Special Recognition Award for it’s strong and outstanding support to the Nigerian Gas Industry and the Nigerian Gas Association.
Speaking on the company’s contributions to the Nigerian gas industry, Brown said: “Our new Sapele gas plant processing capacity (PC) is 75MMscfd, increasing PC in the West to 540MMscfd (Oben and Sapele).
“SEPLAT currently contributes about 30 percent of gas to power generation in Nigeria. Its ANOH Project is to add 300MMscfd capacity and unlock over 1,200MW of gas constrained power generation capacity.”
He, however, stressed the need to build institutional capacity to drive and sustain the transition, which is critical to attaining value and wealth advancement.
Speaking in a panel session titled, “Nigeria’s Decade of Gas: The Industry Leadership Outlook”, Brown said SEPLAT is strategically positioned to access Nigeria’s main demand centers, with its current well stock delivering 300 – 350MMscfd (Gross).
Commenting on some of the challenges bedeviling the gas-to-power drive, the SEPLAT CEO said capital intensity, under-investment, delayed delivery of planned gas infrastructure, poor pipeline network, lack of cost reflective tariffs and huge debts in the power sector as well as delay in passage of the Petroleum Industry Bill (PIB), amongst others, were issues to be addressed.
Commending SEPLAT and other players for their dedication to the growth of the sector, Audrey Joe-Ezigbo, President, NGA, said there is the need to continuously project and leverage the potentials of gas towards enabling and reinvigorating Nigeria’s industrial sector.
Speaking at the event, Mallam Mele Kyari, Group Managing Director,
Nigerian National Petroleum Corporation (NNPC), said the Corporation was committed to fulfilling President Muhammadu Buhari’s directive to boost domestic gas supply.
Represented by the Chief Operating Officer, Gas and Power, Mr. Yusuf Usman, Kyari stated that progress was being made on several of the projects, including the NLNG Train 7, with a foreign direct investment of between $3 billion and $5 billion; and the ANOH gas project, with a fully completed financing arrangement.
In his address also, the Lagos State Governor, Mr. Babajide Sanwo-Olu, harped on the need to have a cleaner, more liveable environment, noting that he is planning well for the state’s huge population, guaranteeing green jobs, reducing carbon emissions and working towards a healthy environment.