Environmental (Commonwealth Union)_ As Africa seeks to unlock its immense energy potential to drive economic development and industrial progress, Nigeria LNG Limited (NLNG) remains committed to reducing carbon emissions and aligning with evolving global market expectations.
Speaking at the 8th Nigeria International Energy Summit (NIES) during a panel session titled “LNG and Domestic Gas Solutions: Paving the Path for Africa’s Energy and Industrial Evolution,” NLNG’s Deputy Managing Director, Olakunle Osobu, outlined the company’s comprehensive energy transition strategy. The strategy includes adopting Carbon Capture and Storage (CCS) technologies, integrating renewable energy, executing a Greenhouse Gas and Energy Management Plan, and upgrading its LNG carrier fleet to improve fuel efficiency and minimize emissions.
As part of its fleet renewal initiative, NLNG has introduced modern LNG carriers, such as the chartered vessels AKTORAS and AXIOS II. These state-of-the-art ships replace older steam-powered models, significantly cutting emissions and reinforcing NLNG’s leadership in decarbonizing the energy value chain.
Osobu emphasized the importance of innovative solutions to tackle challenges and maximize opportunities in Africa’s energy sector. He highlighted liquefied natural gas (LNG) and domestic gas solutions as pivotal in driving Africa’s energy transformation. With Train 7 nearing completion, he also revealed that NLNG is exploring the possibility of an eighth train to strengthen its position as a leading global LNG producer.
Discussing funding mechanisms, Osobu advocated for blended financing through public-private partnerships (PPPs), sovereign wealth funds, and development finance institutions such as the World Bank, IFC, and Afreximbank. He also stressed the role of green and transition bonds in financing low-carbon LNG projects and efficiency improvements.
To help Africa’s energy and industrial growth, Osobu told people in the industry to focus on making the most of the LNG capacity that already exists, fixing security issues, reducing disruptions in upstream gas supplies, making sure regulations are clear, and improving local infrastructure. He called for policy reforms, greater technological investments, and stronger security frameworks to attract international investors and fast-track energy transformation.
Despite hurdles, particularly in gas supply, NLNG remains dedicated to maintaining Africa’s competitive position in the global gas market. Through sustainable innovations and strategic investments, the company continues to bolster Nigeria’s energy security while supporting economic advancement.
