NLNG Committed to Reducing Emissions, Promoting Sustainable Energy Development – DMD Osobu
…Urges Government to Provide Financial Guarantees for Climate Technology Investments.
Nigeria LNG Limited (NLNG) has reaffirmed its dedication to reducing emissions and fostering sustainable energy development through advanced technologies. The Deputy Managing Director of NLNG, Olakunle Osobu, emphasized this commitment while speaking at a panel session titled “Stimulating Early-Stage Investment into Climate Technologies to Meet Net Zero Goals” during the Gastech Climatetech & AI Strategic and Technical Agenda at the George R. Brown Convention Center, Houston, Texas, USA.
This year’s conference, themed “Transforming Energy Through Vision, Innovation, and Action,” provided insights into innovative solutions for achieving net-zero emissions. Osobu, alongside other industry stakeholders, called on governments to offer financial guarantees for climate technology investments. He highlighted the importance of government support through tax credits, early-stage funding for startups, and streamlined regulations to encourage climate tech ventures.
Drawing inspiration from Norway, Osobu pointed out that government leadership is crucial in creating an enabling environment for venture capital to focus on climate tech. He also advocated for establishing carbon markets to incentivize emission reductions.
On NLNG’s initiatives, Osobu mentioned that the company is exploring technologies like Carbon Capture and Storage (CCS) and biofuels. He reaffirmed NLNG’s commitment to addressing climate change through its Greenhouse Gas (GHG) and Energy Management Plan, ensuring that the company mitigates the environmental impact of its operations. He further noted that NLNG continues to assess the potential impact on its ports and facilities and is actively working on mitigation measures.
NLNG is a major player in the global energy sector, contributing to Nigeria’s energy transition with cleaner fossil fuels, efficient LNG production, solar power exploration, and GHG emissions reduction targets of 20% by 2030.
The panel included key figures such as Patricia Melcher, Co-founder and Managing Director of EIV Capital; Bruce Niven, Head of Strategic Venturing at Aramco Ventures; Marc Guilbert, Managing Partner at BX Ventures; Bobby Tudor, CEO and Founder of Artemis Energy Partners; and Moderator Timmeko Moore Love, GM and SVP of Greentown Labs.
