Home Energy system Gas monetization, end of flares, main transition priorities for Seplat Energy

Gas monetization, end of flares, main transition priorities for Seplat Energy

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Seplat Energy Plc, Nigeria’s leading energy company listed on the Nigerian Stock Exchange and the London Stock Exchange, said its energy transition priorities remain to end flaring, monetize gas, replace diesel and biomass with cleaner fuel, to expand along the electricity value chain and to target a smaller scale. gas-to-electric customers. Seplat Energy Managing Director Roger Brown said this while addressing global energy players at Africa Energy Week (AOW) taking place in Cape Town, South Africa. on the theme: Energy Security in an Ever-Changing Energy Landscape, said: “As a leader in this space, our energy transition priorities are to end flaring, monetize gas, replace diesel and biomass through a cleaner fuel, extend the power value chain and target smaller-scale gas-electric customers, while exploring new opportunities. Seplat Energy, he noted, currently produces 300 MMscfd, which is enough to power 1 GW per day. The company’s ANOH and Sapele gas projects have the capacity to supply an additional 2 GW by 2024. “But we need to replace the 20 GW diesel generation with utility-scale gas-to-electric/renewables conversion . We will develop bottled gas products to replace biomass with cooking gas; and extend along the value chain to electricity production with the gas and hybrid model”, underlined the CEO of Seplat Energy. According to Brown, providing more affordable and reliable energy will boost the Nigerian economy, spur development and create jobs. opportunity for society, noting that with a projected future population of 500 million people by 2050, Nigeria represents a huge investment opportunity across the energy sector. , improved national grid, metering, billing, payments, renewable energy and clean cooking replacing biomass were obvious areas of value for businesses and the people and government of Nigeria. to stimulate the creation of decent jobs requiring diversified skills. Enario, a total of 4 million energy-related jobs are created on the continent over the 2021-30 period, largely through the provision of universal access to modern energy to households in Africa sub-Saharan Africa and the rapid deployment of clean energy technologies, according to the IEA report. The CEO of Seplat Energy, who also spoke at a panel discussion titled: International Oil Companies: An Overview of M&A Activity on the Continent, explained that Seplat Energy is an indigenous Nigerian operator that maintains good relations with government and communities; strong operating and safety record; a well-funded balance sheet thanks to prudent financial management and a solid cash position; internationally accountable through dual listing and good governance; and commitment to high performance in environmental and social governance (ESG). All of these, he noted, have given Seplat Energy credible access to international capital markets to fund deals and M&A transactions in line with its strategy.