COP 28: Kyari Makes Case For A Just Energy Transition For Africa

<h4>COP 28<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a> <&sol;strong>reports that as conversations on finding sustainable solutions for a decarbonized energy future continue to hold globally&comma; the Group Chief Executive Officer &lpar;GCEO&rpar;&comma; NNPC Ltd&period;&comma; Mr&period; Mele Kyari has said the African Continent needs &OpenCurlyDoubleQuote;a just&comma; differentiated transition” to enable it to harness its resources for today for the benefit of its future generations&period;<&sol;p>&NewLine;<p>According to a statement signed by Olufemi O&period; Soneye&comma; Chief Corporate Communications Officer&comma;NNPC Ltd and made available to OpenLife&comma; the GCEO made this known while speaking at a Regional CEO Panel organised by McKinsey &amp&semi; Company on the sidelines of the ongoing United Nations Conference on Climate Change &lpar;UNCCC&rpar;&comma; also known as the COP28 Conference&comma; in Dubai&comma; UAE&comma; on Monday&period;<&sol;p>&NewLine;<p>The GCEO&comma; who joined other global energy leaders from the United States&comma; Holland&comma; and Oman to highlight energy perspectives and insights on the evolving energy market&comma; said the world must understand Africa’s peculiarities in addressing the effects of climate change on energy businesses&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;I have always advocated for a differentiated and just energy transition&period; In Africa&comma; we have different circumstances compared to other places in the world&period;<&sol;p>&NewLine;<p>In Africa today&comma; 75&percnt; of our population doesn’t have access to electricity&comma; leaving us with biomass as a key energy source&period; The world needs to recognize that the most practicable thing today is to substitute what we have in the short term to close the energy gap for our rising population&comma;” he stated&period;<&sol;p>&NewLine;<p>With Nigeria forecasted to be among the global top 10 economies by 2035 and 3rd in terms of the global population by the same year&comma; the GCEO said it is critical that the energy poverty question be discussed as nations unite to achieve net zero by 2050&period;<&sol;p>&NewLine;<p>According to the GCEO&comma; with abundant natural gas reserves of 206 trillion cubic feet &lpar;tcf&rpar; that have the potential to rise to 600tcf&comma; Nigeria is currently utilizing gas to drive its journey towards energy transition&period;<&sol;p>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">He said that NNPC Ltd&period; is creating a regional gas pipeline network to supply natural gas across the African continent and boost its Liquefied Natural Gas &lpar;LNG&rpar; supply to the foreign market&period;<&sol;a><&sol;p>&NewLine;<p>Explaining that NNPC Ltd&period; is currently eliminating gas flares in almost all its gas projects&comma; Kyari said the idea is to deploy such gas towards developing power plants nationwide&comma; which will boost nationwide electricity supply&comma; create employment opportunities&comma; and trigger the nation’s industrial and economic development&period;<&sol;p>&NewLine;<p>He said that to demonstrate NNPC Ltd’s commitment to a net-zero future by 2025&comma; the Company recently signed up as a participant in the United Nations Global Compact in New York&comma; becoming the first state-owned oil company to join the global initiative&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;23252" aria-describedby&equals;"caption-attachment-23252" style&equals;"width&colon; 300px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-23252" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2023&sol;12&sol;Regional-CEO-Panel-7-300x124&period;png" alt&equals;"COP 28" width&equals;"300" height&equals;"124" &sol;><figcaption id&equals;"caption-attachment-23252" class&equals;"wp-caption-text"><em><strong>L-R&colon; President&sol;CEO&comma; EQT Corporation&comma; Toby Rice&semi; GCEO NNPC Ltd&comma; Mr&period; Mele Kyari&semi; Senior Partner&comma; Oil &amp&semi; Gas Practice&comma; McKinsey &amp&semi; Company&comma; Micah Smith&semi; CEO&comma; Energy Development Oman&comma; Mazen Al-Lamki and CEO&comma; CEPSA&comma; Maarten Wetselaar at the Regional CEO Panel Session organised by McKinsey &amp&semi; Company&comma; on the sidelines of the ongoing United Nations Conference on Climate Change &lpar;UNCCC&rpar;&comma; also known as COP 28 Conference in Dubai&comma; UAE&comma; on Monday<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;