SNEPCo boss projects gas shortage by 2030

Executive Summary:

The Managing Director of Shell Nigeria Exploration and Production Company Limited, Elohor Aiboni, has warned that Nigeria could face a gas supply shortage of three billion cubic feet per day by 2030.

Despite having the largest proved gas reserves in Africa, Aiboni highlights that

• gas demand is projected to outstrip supply due to factors such as population growth, infrastructure challenges, security issues, and access to energy.
• Aiboni emphasizes the need for Nigeria and other African countries to improve
  – fiscal terms,
  – political climate,
  – energy policies, and
  – contractual terms to attract investors and energy companies.
• She also calls for deliberate efforts to attract foreign direct investments in order to harness the vast gas resources in the region.
• Aiboni notes that
  – stable macroeconomic policies,
  – low inflation,
  – stable interest rates,
  – predictable exchange rates, and
  – easy access to foreign exchange are key factors in attracting capital.
• However, she mentions a decline in FDI in Africa, which she attributes to global commitments to reduce greenhouse gas emissions and the push for renewable energy development.
• Aiboni urges oil and gas producing countries in Africa to create conducive environments, improve access to capital, and attract the necessary skills and capabilities to meet energy needs and thrive in the evolving energy landscape.

The post SNEPCo boss projects gas shortage by 2030   was first published on Majorwaves Energy Report.