TotalEnergies Exploration and Production Nigeria Ltd. says it is committed to reducing energy poverty in Nigeria in line with the vision of the Federal Government.
It however stated that it production going into the future will be big on gas in line with current realities.
The company’s deputy managing director, Deep Water, Victor Bandele, made this known while delivering an address at the 2022 Nigerian Oil and Gas (NOG) Conference on Monday in Abuja. The theme of the conference is: “Funding the Nigerian Energy Mix for Sustainable Economic Growth.”
Bandele said as the world continues the transition to cleaner sources of energy, it was imperative for the government to show the direction the country should go and intensify collaboration with industry stakeholders.
“The Federal Government of Nigeria has set a target of providing electricity access to 80 per cent of our population by 2030.
“It is something that should spur us as an industry to work with the direction of the government.
“We in TotalEnergies are willing to partner with the government to advance these ambitions to make it a reality,” he said.
He said that by 2050, the mix would be about 40 per cent of renewable power, 40 per cent gas and liquid production reduced to 20 per cent globally.
“In Nigeria, we believe that we need to push more for gas. We need to stake our focus on gas because it is the transition fuel for Nigeria.
“So, we are going to put more emphasis on gas development and we are going to do that in very pragmatic and deliberate ways. To achieve these objectives, there should be a responsible approach to possibilities.”
He also allayed fears that the company was reducing production of oil and gas in Nigeria and other parts of the world due to the energy transition.
According to him, in fact, TotalEnergies want to produce more oil and gas in the next five years than what we are producing today.
“The only difference is that now there is a level of responsible approach to that which means we focus on value by selecting low costs development that is the most efficient in terms of greenhouse gas emissions.”
Bandele said in Nigeria, TotalEnergies would continue to make significant investments, especially with the Ikike Development Project which would add about 50,000 barrels per day to Nigeria’s oil production.
“In Nigeria, we are present in the upstream, the midstream and the downstream. You cannot get away from us and we cannot get away from you.
“What it means is that we are fully integrated in Nigeria. As I speak, we produce more than 20 per cent of total oil in Nigeria.
“We are the second highest producer and supplier of gas to the Nigerian population and the Nigerian Liquefied Natural Gas Ltd.
“We have more than 530 filling stations all across Nigeria and about 30 per cent of them have been installed with solar panels, so they generate their energy through solar power,” he said.
He said the decade 2020-2030 will see TotalEnergies transform into a true broad energy company.
TotalEnergies’ projected production and sales mix will change significantly by 2030: 50% gas, 35% oil, 15% electricity. By 2050, the mix could be 40% renewable power, 40% gas and 20% liquid products.
To achieve these objectives, he said, the company has identified some key initiatives:
- Promoting the use of natural gas, biogas, and hydrogen
- Investing in low carbon electricity, mainly from renewables
- Investing in low-cost oil and biofuels
- Investing in carbon sinks that are essential to achieving carbon neutrality, either nature-based solutions or carbon capture & storage
- A responsible approach to fossil energies: focusing on value by selecting low-cost developments that are the most efficient in terms of greenhouse gas emissions, producing more green gases
- Promoting the circular economy in the use of plastics
- Developing carbon storage.
Speaking on the company’s activities in Nigeria, he said over 1.5 million people in Nigeria have been impacted from sale of 400,000 TotalEnergies solar lamps since 2013.
“According to Global Lighting Off-grid Association estimates. Worldwide, 10 million people have been impacted.
Out of our more than 530 service stations across the country, not less than 112 have been solarized to date. It’s an ongoing programme and our target is to ensure that our stations all become solarized.”
“Our investment in the NLNG from the beginning till now, is partly derived from our commitment to the production of cleaner and better energy. Natural gas is one of TotalEnergies’s focus areas to meet growing energy demand worldwide while helping fight climate change. TotalEnergies has chosen to integrate across the entire gas value chain, from production and liquefaction to marketing and distribution to end-customers. The company has been a major global player in liquefied natural gas (LNG) for 40 years and is the world No.2 today, targeting sales of close to 50 million metric tons per year by 2025.”
He said the pursuit of zero carbon energy will encourage infrastructure development, especially infrastructure that will support the provision of facilities for the use of renewable energies. “This will also attract foreign investment with its knock-on benefits including enhancing the value of the Naira as it earns the country more forex.”
Olusola Bello