NNPC Ltd. has taken a decisive stance to collaborate with international allies in the endeavour to diminish methane emissions within the oil and gas sector.
At the ongoing United Nations Climate Change Conference, COP28, held in Dubai, UAE, the Oil and Gas Decarbonisation Charter was unveiled, setting an ambitious target for the industry to achieve net-zero emissions by 2050. This pact also pledges to attain near-zero methane emissions and cease routine flaring by 2030.
During a crucial panel session themed “Accelerating the Elimination of Methane Emissions and the Decarbonisation of Oil and Gas,” NNPC Ltd’s Executive Vice President, Upstream, Oritsemeyiwa Eyesan, underscored the significance of this charter, not only for NNPC Ltd but also for the African sub-region.
Eyesan highlighted, “Africa’s three percent contribution to emissions doesn’t exempt us from their consequences. The decarbonisation drive isn’t just ethical but also a strategic imperative for a significant African National Oil Company (NOC) like ours.”
She stressed Nigeria’s commitment to the Decade of Gas, aiming not just for increased gas production for export but also for local and regional consumption, aligning with the African sub-region’s economic growth.
“Together with our partners, we’re committed to achieving zero-flare and reducing methane emissions by 2030, fitting our long-term vision,” Eyesan reaffirmed.
COP28: NNPC Leading the Charge for Oil and Gas Decarbonisation
She acknowledged the challenges of finance and technology in meeting these commitments, advocating for partnerships between African nations and entities possessing the requisite resources.
NNPC Ltd. remains steadfast in diversifying energy sources and investing in solar, wind, and renewables to bolster sustainability and drive environmental progress.
On the technical front:
Scope 3 emissions for oil and gas: Scope 3 emissions encompass indirect emissions stemming from the use of oil and gas products, like emissions from burning petrol, diesel, and natural gas by consumers in various sectors, constituting a significant part of the industry’s carbon footprint.
Impact of the oil and gas industry on climate change: The industry contributes significantly to climate change through the extraction, production, and consumption of fossil fuels, releasing methane and CO2, major greenhouse gases, into the atmosphere, exacerbating global warming.
Greenhouse gases in the oil and gas sector: The primary greenhouse gases emitted include CO2, methane (CH4), and nitrous oxide (N2O) during various processes like extraction, transportation, and combustion of fossil fuels, with methane being particularly concerning due to its higher potency as a greenhouse gas.
Carbon emissions from oil: Carbon emissions from oil combustion, mainly in transportation and industrial processes, contribute a substantial portion of global CO2 emissions, estimated to be around 45%.
NNPC Ltd.’s proactive stance signals a progressive shift in addressing climate concerns within the industry, heralding a pivotal chapter in Africa’s energy evolution.
