Operators in Nigerian Oil and Gas Industry must respond to future business model of multi-energies says TotalEnergies, MD

…As coy eliminates routine flaring by December 2023

Managing Director, TotalEnergies Exploration and Production Nigeria Limited, Mr. Matthieu Bouyer, has pointed out that TotalEnergies aims to reduce its global GHG emissions from oil and gas facilities by 40% in 2030.

According to him ‘by 2030, the company targets an energy mix of gas (50%); petroleum products (30%); electricity (15%); biomass and hydrogen (5%).

Speaking at the opening ceremony of the 41st Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition held in Lagos, Bouyer said the oil company would by the end of 2023 eliminate routine flaring at all in its installations in the country.

“As part our global efforts in TotalEnergies, in Nigeria, we are ramping up the Solarization of energy sources in our facilities and host communities in Nigeria. From a modest generation of 0.12MW in 2021 to 0.55MWp in 2023 and with a target of 9.4MWp by the end of 2025.”

The TotalEnergies boss was of the view that for Nigeria to be relevant, or even survive in the foreseeable future, policy makers, regulators and other stakeholders in the Nigerian oil and gas industry must respond by evolving a future business model of “multi-energies” and placing more responsibility on people and the environment by progressively reducing the carbon footprints of petroleum exploration operations whilst transiting to cleaner and renewable energy sources.

“In this journey of energy transition, we recognize the strategic role of natural gas. Gas produces half the GHG emissions of coal for the generation of electricity.  It emits less GHG than oil for the same quantity of energy and in its liquefied form (LNG), it offers similar ease of storage and transport.  Gas is therefore the key energy of the transition as renewable energies today cannot meet the energy needs of the world’s populations”

“For more than a century, oil and gas have powered the socioeconomic lives all around the globe.  However, it has been realized that the unintended consequences of uncontrolled and unsustainable generation, processing and use of fossil fuels are far greater than previously thought. Top on the list of these undesirable consequences is Global Warming with all its manifestations.  Consequently, society has been responding by discouraging the generation and use of energy sources with high greenhouse gas (GHG) emissions and high carbon footprints and promoting the use of cleaner, and renewable energies sources”