The Chief Executive Officer of the Nigerian National Petroleum Company, Mele Kyari on Tuesday revealed a new decision on energy transition.
According to Kyari, NNPC will use the vast gas resources in Nigeria as a transition fuel.
This is said to be according to the recent global push for energy transition away from hydrocarbons.
Kyari while speaking at the 1st National Extractives Dialogue organised by the Nigeria Extractive Industries Transparency Initiative in Abuja on Tuesday said the national oil firm was currently revising its strategies on energy transition.
He said, “The aftermath of COP26 in Glasgow has shown that the world is committed to energy transition which the EITl and other stakeholders have also recognised.
“I would like to assure you that as NNPC transitions to a CAMA (Companies and Allied Matters Act) company, we are restructuring our businesses to take advantage of the opportunities that energy transition will bring forth.
“As we commence implementation of our revised strategy, we will use our large gas resource as a transition fuel to aid this process.”
The Chief Executive of NNPC further stated, “We are committing our resources for the next decade, which is tagged the decade of gas, to explore and produce more gas relative to oil, to power Nigeria and the international community as we transit away from hydrocarbons.
“The next decade ahead will be an interesting one, therefore I call on stakeholders to support the industry and NNPC Limited so that our resources can work for all Nigerians and, by extension, the world.”