NNPC Ltd to Utilize Gas for Nigeria’s Industrialization and Economic Growth, Says Executive Vice President Eyesan

In a recent panel session at the 2024 CERAWeek Conference, Mrs. Oritsemeyiwa Eyesan, the Executive Vice President of Upstream at Nigerian National Petroleum Company (NNPC) Ltd, reaffirmed the company’s dedication to leveraging Nigeria’s abundant gas resources to drive industrialization and economic development within the country.

Addressing the theme “What are the Choices for Upstream Strategies?” during the conference, Eyesan emphasized Nigeria’s significant gas reserves, exceeding 200 trillion cubic feet (TCF), which present vast opportunities for powering industrial growth and economic advancement.

NNPC Ltd is strategically focused on expanding domestic gas utilization to fuel industrialization efforts across Nigeria, ensuring widespread access and optimal utilization of this valuable resource. Eyesan highlighted ongoing initiatives aimed at developing gas infrastructure nationwide through various gas projects spearheaded by the company.

“Our objective is to transition from primarily an oil-focused entity to a prominent player in the gas sector, not just for energy production but also for powering industries,” Eyesan stated, underlining NNPC’s commitment to reducing emissions and eliminating gas flaring by harnessing flared gas for domestic consumption and energy transition initiatives.

Eyesan also emphasized NNPC’s alignment with government strategies to position gas as a transitional fuel, with plans to expand domestic and regional gas markets while also exploring international opportunities.

Highlighting the importance of regional collaboration in energy resource distribution across Africa, Eyesan stressed the need for collective efforts to ensure equitable access to energy resources within the sub-region.

Regarding energy transition, Eyesan noted the evolving narrative and emphasized NNPC’s strategic approach based on competitive advantages and addressing energy poverty challenges, particularly within Sub-Saharan Africa.

Joining Eyesan on the panel were distinguished energy experts including Bob Fryklund from S&P Global Commodity Insights, Kendall Dilling from Pathways Alliance, and Philippe Mathieu from Equinor.

The NNPC Corporate Communications highlighted Eyesan’s insights as part of NNPC Ltd’s ongoing commitment to driving sustainable energy practices and contributing to Nigeria’s economic prosperity through innovative gas utilization strategies.

Source: NNPC Corporate Communications