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FG, IEA to brainstorm on energy transition
Release time:2021-09-06
Reprint:https://sweetcrudereports.com/fg-iea-to-brainstorm-on-energy-transition/

abstract:-

The Federal Government, the International Energy Agency, IEA and stakeholders in the oil and gas sector will on September 10, hold a workshop as part of Nigeria’s efforts at facilitating its energy transition through carbon capture, utilisation, and storage, CCUS development.

A statement by the technical adviser on gas business and policy implementation to the Minister of State, Petroleum Resources, Engr. Justice Derefaka, said the workshop is geared towards meeting Nigeria’s global energy and climate goals

The workshop, which would have local and international experts on CCUS, would also help Nigeria meet its 17 Sustainable Development Goals, 17-SDGs by transitioning to a cleaner and lower-carbon energy system.

“As you may all know; humanity is currently confronted with one of the greatest problems it has ever faced. The dilemma is how Nigeria, and the rest of the world can meet rising energy demand while also attempting to transition to a cleaner, lower-carbon energy system in order to combat climate change and air pollution. Each of us has a responsibility to our country, and we must all do our share. We need to deliver greater and cleaner energy as a government. So, how can the oil and gas industry and other sectors prosper during this period of energy transition? It is, first and foremost, a projection of the future.

“It was on this topic that the United Nations convened two historic sessions in 2015. At that session, world leaders agreed on 17 Sustainable Development Goals (SDGs) in New York, USA. They range from eradicating hunger to ensuring clean water is available for everyone whilst spotting energy as a ‘critical’ common link for achieving these ambitious goals.

“Later that year, in Paris, world leaders, including Nigeria’s president, His Excellency, Muhammadu Buhari, GCFR, pledged to strive toward keeping global warming far below 2°C over pre-industrial levels, in order to prevent the more serious consequences of climate change,” the statement read in part.

According to him, the use of energy products, like oil and gas and coal – for power, heating, cooling, industry, transport – cause majority of the world’s greenhouse gas emissions, therefore, changing the mix of energy products in the energy system is essential to address climate change.

He stressed that the United Nations 17-SDGs must be implemented in order to create a sustainable and just future for all humankind and our planet.

“The 17-SDGs are worldwide objectives. However, their implementation necessitates the participation of a wide range of government, industry, and civil society actors. As a result, policymaking and industry innovation activities must be geared to aid rather than hinder the achievement of the 17-SDGs. As a result, it is critical to guarantee that the potential environmental, economic, and societal implications of technological breakthroughs pursuing public support and funding in research, development, and market implementation are in line with the 17-SDGs’ respective goals.

“Applications for carbon capture, utilisation, and storage (CCUS) are an example of such developments. They hope to have a good impact on the economy, society, and environment by capturing and utilizing CO2. Carbon capture, utilisation, and storage (CCUS) are now financed by governments in various countries, and this financing is projected to increase, in addition to industry initiatives to promote such technology. As a result, a review of carbon capture, utilisation, and storage (CCUS) technologies’ compliance with the 17-SDGs is both required and long needed.

“To put the global energy system on pace for net-zero emissions in the next decade, a significant increase in CCUS deployment is required. Governments play a vital role in establishing a sustained and successful market for CCUS through policies. Industry, on the other hand, must seize the chance. Clean energy transitions will influence every business, and the importance of CCUS is unavoidable for some, such as heavy industries.

“We at the Ministry of Petroleum Resources, we know that oil and gas businesses have the engineering know-how, project management skills, and financial resources to push CCUS development and implementation forward,” the statement added.