Over 180TCF of African Gas remains untapped – NUPRC
According to the Nigerian Upstream Petroleum Regulatory Commission, fragmented markets and uneven fiscal and regulatory frameworks are the key reasons why more than 180 trillion cubic feet of discovered natural gas in Africa are still undeveloped.
During her keynote speech at the Nigerian International Energy Summit on Monday in Abuja, Oritsemeyiwa Eyesan, the CEO of the NUPRC, revealed this in a statement.
According to the Nigerian News Agency, Eyesan urged African nations to unify their laws and marketplaces.
The CEO underlined the need of fortifying the African Petroleum Regulators' Forum as a crucial platform for bringing energy rules throughout the continent into alignment and drawing in significant investment, as represented by Edu Inyang, the Executive Commissioner for Exploration and Acreage at the NUPRC.
During her keynote speech at the Nigerian International Energy Summit on Monday in Abuja, Oritsemeyiwa Eyesan, the CEO of the NUPRC, revealed this in a statement.
According to the Nigerian News Agency, Eyesan urged African nations to unify their laws and marketplaces.
The CEO underlined the need of fortifying the African Petroleum Regulators' Forum as a crucial platform for bringing energy rules throughout the continent into alignment and drawing in significant investment, as represented by Edu Inyang, the Executive Commissioner for Exploration and Acreage at the NUPRC.
The NUPRC executive noted that inconsistent regulatory frameworks across African countries continue to hinder cross-border energy investments and delay the execution of major projects.
“Our voice must be one, our frameworks aligned, and our actions coordinated. Only then can we unlock the full transformative power of Africa’s resources for our people.
"Inconsistent regulations are what discourage investors, not Africa's geology.
According to Eyesan, "a unified regulatory voice would significantly reduce investment risks and accelerate development."
According to Eyesan, Africa's wealth of human and natural resources is the foundation of its growth potential.
She pointed out that the continent has around 8% of the world's oil and gas reserves, almost 30% of the known important mineral resources, and a population of more than 1.5 billion people, most of whom are young and engaged in the economy.
According to Eyesan, "a unified regulatory voice would significantly reduce investment risks and accelerate development."
According to Eyesan, Africa's wealth of human and natural resources is the foundation of its growth potential.
She pointed out that the continent has around 8% of the world's oil and gas reserves, almost 30% of the known important mineral resources, and a population of more than 1.5 billion people, most of whom are young and engaged in the economy.
According to the energy expert, utilising these benefits through harmonised regulatory frameworks, integrated infrastructure, and coordinated policies might promote industrialisation, strengthen regional value chains, increase energy security, and promote inclusive growth.
Additionally, Eyesan emphasised Africa's growing capacity to show unity on international forums, such as at subsequent Conference of the Parties gatherings.
She cited cross-border gas projects like the West African Gas Pipeline, regional power pools, and the African Continental Free Trade Area pact as instances of this advancement.
Additionally, Eyesan emphasised Africa's growing capacity to show unity on international forums, such as at subsequent Conference of the Parties gatherings.
She cited cross-border gas projects like the West African Gas Pipeline, regional power pools, and the African Continental Free Trade Area pact as instances of this advancement.
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