- Omuojine said that despite the rise of renewable energy projects, oil and gas will continue to play a significant role in Africa’s energy mix.
- Nigeria’s domestic demand for LPG increased from just over 400,000 MT in 2016 to over 1.3 million MT in 2022.
The most effective use of gas, according to Mr. Emmanuel Omuojine, Executive Director of Rainoil Limited, is the assurance of achieving energy equity and security in Africa.
In his presentation titled “The Critical Role of Liquified Petroleum Gas in Africa Energy Transition,” Omuojine said that despite the rise of renewable energy projects, oil and gas will continue to play a significant role in Africa’s energy mix, with gas accounting for at least 25% of this by 2050. He was speaking at the recently concluded Africa Refiners and Distributors Association Conference, ARDA Week 2023, held in South Africa.
According to him, Africa possesses natural gas reserves worth over 620 trillion cubic feet, which are essential to the continent’s energy security. According to him, Nigeria must completely implement the Petroleum Industry Act (PIA), particularly as it relates to the best possible utilization of the nation’s enormous gas reserves, in order to reap the benefits of its energy transformation.
Focusing on the LPG market, Omuojine said that while Nigeria’s annual per capita LPG consumption had increased dramatically from 1.8 kg in 2015 to at least 5 kg, it still imports well over 60% of its LPG needs. With over 209 trillion cubic feet of known gas reserves, Nigeria has the largest gas reserves in Africa; he continued. Thus, this was an oddity.
Nigeria’s domestic demand for LPG increased from just over 400,000 MT in 2016 to over 1.3 million MT in 2022.