- Nigeria LNG Limited has restated its commitment to climate action, leveraging cutting-edge technologies to reduce emissions.
- The Deputy Managing Director of Nigeria LNG expressed that NLNG has taken climate change seriously and has proposed and implemented various actions to mitigate the environmental impact of its operations.
Nigeria LNG Limited has restated its commitment to climate action, leveraging cutting-edge technologies to reduce emissions and promote sustainable energy development. While giving this assurance, the Deputy Managing Director of Nigeria LNG, Olakunle Osobu, called on governments to provide financial guarantees for climate tech investments.
Osobu said that government initiatives should offer tax credits or deductions for climate tech investments, provide early-stage funding for startups, streamline regulations, and provide clear policies and standards.
Citing Norway’s example, where the government made technology work, Osobu urged the authority to lead in creating an enabling environment that will encourage venture capital funds to focus on climate tech investments.
He stressed the need to establish carbon markets to incentivise emissions reduction.
He highlighted what NLNG is doing so far and noted that NLNG’s potential is great. ‘’we are looking at Carbon capture and storage,” he said.
He said NLNG was looking at the prospect of biofuel. “NLNG is also committed to addressing climate change challenges through implementing its Green House Gas (GHG) and Energy Management Plan,” he said.
He expressed that NLNG has taken climate change seriously, and various actions have been proposed and taken to mitigate the impact of its operations on the environment, adding that the company has continued to assess possible impacts and mitigate the actions needed for its port and facilities.
He noted that Nigeria LNG is a significant player in the global energy industry, contributing to Nigeria’s energy transition and global efforts, which include cleaner fossil fuels, an efficient LNG production process, minimizing energy consumption and emissions, carbon capture and storage, exploring solar power for electricity generation, and reducing greenhouse gas (GHG) emissions, with a target of a 20 per cent reduction by 2030.