As Africa seeks to harness its vast energy potential to drive economic growth and industrial evolution, NLNG has reiterated that it is focused on reducing carbon emissions to meet evolving market expectations.
Speaking at the just-concluded Nigeria International Energy Summit in Abuja, the Deputy Managing Director of NLNG, Olakunle Osobu, stated that NLNG’s multifaceted strategy for energy transition included incorporating carbon capture and storage technologies, harnessing renewables, implementing a comprehensive greenhouse gas and energy management plan, and modernising its LNG carrier fleet to enhance fuel efficiency and reduce carbon emissions.
He disclosed that NLNG has embarked on a fleet renewal initiative as part of its commitment to operational efficiency, incorporating modern LNG carriers such as the company’s chartered vessels, LNG AKTORAS and LNG AXIOS II.
These vessels, he said, replaced older steam-powered ships, significantly reducing carbon emissions, enhancing fuel efficiency, and reinforcing NLNG’s leadership in value-chain decarbonisation.
Osobu emphasised the need for innovative strategies to overcome challenges and unlock opportunities in Africa’s energy sector, pointing at liquefied natural gas and domestic gas solutions as enablers of Africa’s energy transformation.
With the completion of Train 7, he said NLNG was already considering the development of an eighth train to further solidify its position as a top global LNG producer.
Highlighting innovative financing models, Osobu advocated blended financing through public-private partnerships, sovereign wealth funds, and development finance institutions like the World Bank, IFC, and Afreximbank.
He also underlined the importance of green and transition bonds in funding low-carbon LNG projects and efficiency upgrades.
Speaking on key bottlenecks hindering Africa’s energy and industrial growth, Osobu called for the attention of stakeholders in the industry to address the underutilisation of existing LNG capacity, security concerns, upstream gas supply disruptions, regulatory uncertainties, and inadequate local infrastructure.
He called for policy reforms, increased technological investments, and improved security frameworks to attract global investors and accelerate energy transformation.
Osobu stated that despite the challenges, particularly in gas supply, NLNG remains committed to maintaining Africa’s competitive footprint in the global gas trade and continues to invest in sustainable solutions that support Nigeria’s energy security and economic growth.
