By Enyichukwu Enemanna
Stemming from instability in European market as a result of Russia invasion of Ukraine, Nigeria’s leading energy company, Seplat Energy has called on the international community to look towards the direction of Africa for reliable supply of gas especially as quest for transition to clean energy gathers momentum globally.
The organisation says investment in Africa’s energy industry would help the developed nations, improve their energy security at little cost to the environment while also complying with all their Environmental, Social and Governance (ESG) requirements.
European countries have faced shortage of energy due to supply cut from Russia, in reaction to economic sanctions imposed on Moscow by EU and US.
Earlier in the week, the International Energy Agency said Europe faces “unprecedented risks” to its natural gas supplies this winter after Russia cut off most pipeline shipments, warning that European nations could wind up competing with Asia for already scarce and expensive liquid gas that comes by ship.
The Paris-based IEA said in its quarterly gas report that the European Union’s 27 countries would need to reduce natural gas use by 13% over the winter in case of a complete Russian cutoff amid the war in Ukraine.
Speaking at the ongoing Africa Oil Week, in Cape Town, South Africa, Chief Executive Officer, Seplat Energy Plc, Roger Brown, said Nigeria and other African nations have gas in commercial reserves, as a vehicle to achieving its energy transition.
He said Africa’s gas sector presents an enormous opportunity for developed nations to diversify their energy suppliers in the face of uncertainty in European energy market, while still meeting their environmental responsibilities.
