Developing nations require huge investment in infrastructure to effectively drive their energy transition.
The Managing Director and Chief Executive officer of Nigeria LNG, Dr. Philip Mshelbila, stated this in Houston, USA while speaking at a Global leadership panel on Energy inclusion: Widening access to natural gas and LNG to support the transition to lower -carbon energy system in emerging economics.
Dr. Mshelbila listed insufficient pipelines, storage, regasification facilities, high costs of importing LNG, limited access to affordable energy as some of the key issues that must be addressed.
He said these challenges, when addressed, emerging economies would be able to widen access to natural gas and LNG, support lower-carbon energy transition and energy inclusion.
He urged developing economies, especially global energy policymakers, to create energy equity and inclusion to ensure that the average African women’s daily energy needs are met, while also cautioning that there were consequences for energy exclusion as the concept was key to meeting climate energy goals.
On the growing population and energy needs , he said ‘’Nigeria’s population is estimated to be around 200 million and by 2050; it is estimated to grow to about 250 million and most of them are young people who will need one form of energy in one way or the other. So, it is expedient to have various energy mix to carter for this growing population”.
Dr Mshelbila noted that the Nigerian government was doing all it could to meet up with the energy needs of its growing population, using natural gas as its transition fuel.
He recalled that in 2020, the government launched the Decade of gas and NLNG was solidly behind it and played a key role in the gas initiative.
” As at today, NLNG supplies almost 40 per cent of Nigeria’s LPG demand in-country, delivering over 400,000 tonnes.
‘’Our company’s focus on the domestic market solidifies its reputation as a top-tier global player. Also, by channeling the LPG, we are invariably displacing Charcoal and wood burning which release pollutants that causes about 1.6 million premature deaths annually,”
He also posited that Nigeria and other developing nations need energy to move forward in their industrialization agendas and natural gas would play a vital role in it, calling on producing nations to see how they could maximize the natural gas in their nations.
The managing director also noted that diversity, equity and inclusion were key cardinal issues that could help in fast racking the progress of energy transition in developing economies.
Other stakeholders also highlighted the need for Infrastructure development in Pipelines, LNG terminals, storage facilities, Public-Private Partnerships (PPPs): Collaborative investments, Financing mechanisms: Green bonds, concessional loans, development of national energy plans, and good regulatory frameworks as action plans that can aid in equitable energy
