- The key pillars of the regulatory framework include natural gas shift, zero routine gas flaring and methane abatement.
- The NDC supports 2030 emission reduction targets, of which Nigeria commits to an unconditional reduction of 20%.
In line with Nationally Determined Contributions (NDCs), the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the regulatory framework for energy transition, decarbonisation, and carbon monetisation for upstream operations in Nigeria. The chief executive of NUPRC, Mr Gbenga Komolafe, revealed the regulatory framework at COP28 in Dubai, titled “Driving Sustainable Upstream Operations to Achieve Just and Equitable Energy Transition.”
The key pillars of the regulatory framework include natural gas shift, zero routine gas flaring and methane abatement, carbon market development, upstream operations efficiency, technology and innovation, incentive mechanisms, collaboration, and risk management. Komolafe said NUPRC is at the forefront of championing the decarbonisation of the upstream operations for investment sustainability, economic growth, and energy security for Nigeria in line with NDCs and sustainable development goals.
The NDC supports 2030 emission reduction targets for which Nigeria commits to the unconditional reduction of 20 per cent and a conditional reduction of 47 per cent with international support in financing, technology transfer, and capacity building. According to him, the commission has commenced the regulatory framework implementation by issuing the 2022 Guidelines for Management of Fugitive Methane and Greenhouse Gases Emissions in the Upstream Oil and Gas Operations in Nigeria. He urged stakeholders across the board to join NUPRC in implementing the framework within the coming months, underpinned by applicable directives, guidelines, and regulations.