Nigeria LNG Limited has reiterated its commitment to climate action, leveraging cutting-edge technologies to reduce emissions and promote sustainable energy development.
The Deputy Managing Director of Nigeria LNG, Olakunle Osobu made the pledge while speaking at a panel session on ‘Stimulating early-stage investment into climate technologies to meet net zero goals’, at Gastech Climatetech & AI strategic and Technical Agenda held in Houston, Texas, USA.
Speaking on the theme of this year’s conference “Transforming Energy Through Vision, Innovation, and Action,”Osobu joined other stakeholders to call on governments to provide financial guarantees for climate tech investments.
According to him, government initiatives should offer tax credits or deductions for climate tech investments, provide early-stage funding for climate tech startups, streamline regulations, provide clear policies, and standards.
He said in Norway, it was the government that made technology to work, so Government must take the lead in creating enabling environment that would make venture capital funds to focus on climate tech investments.
Mr Osobu stressed the need to establish carbon markets to incentivize emissions reduction.
He Highlighted what NLNG has done so far in the fifht against climte change, ‘’we are looking at Carbon capture and storages
and the prospect of biofuel as well as addressing climate change challenges through the implementation of its Green House Gas (GHG) and Energy Management Plan”.
“NLNG takes 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 continues to assess possible impact as well as mitigation actions needed for its port and facilities”, he said.
The Deputy Managing Director enumerated other achievements of the Nigeria LNG to include being a significant player in global energy industry, contributing to Nigeria’s energy transition and global efforts, which include Cleaner fossil fuel, efficient LNG production process, minimizing energy consumption and emissions, Carbon Capture and Storage, exploring solar power for electricity generation and Greenhouse Gas (GHG) Emissions Reduction, targeting 20% reduction by 2030.
Other members of the panel include: Patricia Melcher , Co-founder and MD EIV Capital, Bruece Niven, Head Strategic venturing Aramco Ventures, Marc Guilbert Managing Partner BX Ventures, Bobby Tudor, CEO and founder Artemis Energy Partners, and Moderator , Timmeko Moore Love , Gm & SVP Greentown Labs.
