Inclusiveness, Energy Security Should Direct Global Energy Transition Discussions – Komolafe

Energy transition discussions should revolve around the implementation of a fair, equitable and sustainable energy mix that entrenches the principles of inclusiveness and guarantees energy security, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr Gbenga Komolafe, told participants at this year’s Offshore Technology Conference (OPC) holding in Houston, Texas, USA.

 Engr. Komolafe who presented a paper on “Energy Transition and Nigerian upstream oil and gas landscape: The Journey, Challenges and Way forward,” in Houston, on Tuesday, believes that while deliberations on the global transition to renewable and sustainable energy is going on, proponents should consider the right of nations to harness their energy resources for their development goals. They should also consider the freedom of nations to attain the right energy mix in multiple pathways and sustainable energy supply.

The theme for this year’s Luncheon and Panel Session at the OPC which opened on Monday, May 1,  is “Energy Transition in Africa: The Journey, Challenges and Way Forward;” and the Commission Chief Executive’s presentation was in line with the overall theme of the conference, but with main focus on the Nigerian upstream sector.

Komolafe said the perspective was relevant considering the momentum in energy transition, the attendant changes in energy economy, as well as the expectations of stakeholders on the implementation of the Petroleum Industry Act (PIA) 2021.

After detailing the vast oil and gas potentials of Nigeria and reviewing the cautions by the Intergovernmental Panel on Climate Change (2021) on reduction of carbon emissions, and the Roadmap for global energy sector issued in 2022 by the International Energy Agency (IEA) on Net Zero by 2050, Komolafe said these provided the context within which Nigeria’s response to the energy transition and consequently the role of gas should be discussed. These perspectives indicate a new direction of travel that fossil fuel dependent economies needed to anticipate and prepare for, Komolafe added.

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