He said: “NNPCL recognises the activities of the oil and gas sector as a significant contributor to carbon emissions and the consequent adverse impact on the climate.
“We have taken steps to decarbonise our operations by primarily excusing gas flares from our operations, pursuing carbon capture initiatives and technology that supports low carbon operations while focusing on gas as a transition fuel.
“Subsequently, NNPC is taking advantage of Nigeria’s huge natural gas reserves of over 200 trillion cubic feet of gas with the potential to grow to 600Tcf.
“More investment is expected due to the recent resolution of the production sharing contracts with our partners and the empowerment of the NNPC by the Petroleum Industry Act (PIA) to take full responsibility for commercial operation of the Joint Venture assets.”
The NNPCL boss, stated that the company’s significant reserves will provide the resources for a low carbon energy alternative that will support growth in the power and industrial sector and reduce energy poverty, carbon footprints and create more employment opportunities.