"Gas is critical as a transition fuel to power Africa's industrialisation, solve energy poverty and generate resources for energy transition" is a phrase you would hear often at the Africa Pavilion at theIn preparation for COP 27, Nigeria's government recently launched its, which is purported to be its homegrown, data-backed and multi-pronged strategy to achieve net zero emissions by 2060 while solving energy poverty and lifting 100 million Nigerians out of poverty.
International Oil Companies are walking away from new exploration and choosing projects more carefully. They are focused on producing assets, and exploration in countries where investment is cheaper and easier to implement. IOCs are even walking away from already-planned projects, and we have seen unprecedented $87 billion IOC write-downs, Q4 2019 - Q2 2020 with many more divestments expected.
The top export destinations for Nigeria's petroleum products have all announced ambitious carbon neutrality goals of between 2030 and 2050. This means that by the time exploration, and liquefaction or pipeline infrastructure construction is completed in about ten years, demand may have plateaued or plummeted.