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25/10/2021 News

Energy Transition Timeframe is Country-specific, says Sangster at Sustainability Conference

He spoke as a panelist at the Energy Sustainability Conference opening ceremony on Thursday, October 21, 2021 at the Oriental Hotel, Lekki. The two-day conference served as a rallying point for stakeholders in the energy industry to establish a statement for the country’s energy policy to be implemented.

The Theme of the Conference was - Accelerating Sustainable Energy Solutions through Policy Implementation: Prospects and Limitations.

Mr Sangster, represented by the Executive Director, Strategy, Business & Asset Management, Mr Abiodun Afolabi said, “The different sources of energies have a role to play in the energy transition. Not all countries are the same. Not all countries are going to start in the same grade, and we need to recognize this. For a cleaner energy, we need to chart a way.”

He explained that at “TotalEnergies, the mix of our production is 55% liquid products, 40% gas and 5% renewables. We have taken commitment that by 2050, all these will change. Liquid products will then represent 20%, gas will be 40% and renewables will be 40%. We will target our net zero and we strongly believe that a strong and robust gas policy in Nigeria will allow us to use this opportunity to develop.”

Cautioning against what he described as “the silos in polices”, Mr Sangster also emphasized the need for policy consistency.

“What is fundamental is consistency”, he pointed out. “We need to be consistent in our interpretation of what the Petroleum Industry Act (PIA) is. Today it is just a big document that hopefully in the next year and the implementations stage we are entering, we will be able to decipher, understand and make concrete business decisions. It is when there is consistency that it can generate long-term investment.”

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari who was represented by the Group General Manager, National Petroleum Investment Management Services (NAPIMS), Bala Wunti gave the keynote address.

The GMD urged the participants to create a balance for Energy Security in the country: “There is need to understand the sustainable energy we are clamouring for. While trying to ensure we have sustainable energy, we also have to keep our eyes open to ensure we maintain our country’s energy security. Definition of energy security is applicable on the 4 A’s: Energy must be available, accessibility is key, it must be affordable and be acceptable. The need for us to make this clear presents a challenge to policy makers.”

He further cautioned stakeholders not to be in a hurry to exit hydrocarbons, adding that “the global energy crisis tells us that we may need to be careful in exiting hydrocarbon demand disruption. We want renewables, but reliability becomes key. I know technology is improving but before we get to the level where we have significant level of storage, we need to know where we get our energy needs. Nigeria signed up for clean emissions but when you look at the demand and supply cycle, using new energies to meet that demand will take a lot of years.”

The Commissioner for Energy and Mineral Resources in Lagos State, Olalere Odusote who was also a panelist at the event remarked that: “When the state looks at coming into the energy sector, they are looking at right sizing it. There is no need for subsidy. We are already paying for it. In addition to the 900MW being supplied by the national grid, there is another 4,500MW being generated by Lagosians, So Lagosians are actually powering themselves. We are already paying for it so what is the subsidy? We just approved a policy, a universal blueprint for Lagos to achieve universal access to electricity.”

The conference featured various panel sessions.

Earlier in her welcome remarks, the Managing Director, Energy Institute Nigeria, Yewande Abiose stated that it has become evident that oil and gas firms can assist in solving and addressing the problem of climate change and she encouraged participants to interact.

  • Photos from the Energy Sustainability Conference, Lagos

  • Photos from the Energy Sustainability Conference, Lagos

  • Photos from the Energy Sustainability Conference, Lagos

  • Photos from the Energy Sustainability Conference, Lagos