The Managing Director of Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), Mrs Elohor Aiboni, says Nigeria needs to diversify its renewable energy portfolio to reduce carbon emissions from fossil fuel production.
Aiboni said this the 41st Annual International Conference and Exhibition of the National Association of Petroleum Explorationists (NAPE) on. Wednesday, November 15, 2023, in Lagos.
According to her, this shift towards renewables is crucial while also meeting the energy demands of a growing population.
Aiboni suggested that one way to achieve this is through encouraging Public-Private Partnerships in renewable energy.
The managing director said that this would address the challenges of high investment costs and limited access to financing.
She stressed that reducing carbon emissions from fossil fuels is a national endeavour that requires the collaboration and cooperation of individuals and corporate bodies.
As an example of private sector intervention in renewable energy, Aiboni mentioned All On, an impact investing company established by Shell in Nigeria in 2017.
According to her, All On has successfully provided over 75,000 energy connections in Nigeria through its investee companies, focusing on solar energy systems, solar assembly, cold storage, and mini grids.
Aiboni also advocated for investments in lower-carbon energy sources, particularly the expansion of the natural gas portfolio and gas infrastructure projects including pipelines, processing facilities, and distribution networks.
These investments, she noted, would enhance domestic gas supply, promote intra-regional trade and global exports, while also narrowing the energy access gap and mitigating the risk of stranded gas resources.
Regarding the role of technology in improving energy efficiency, Aiboni highlighted advancements such as artificial intelligence, robotics, proactive surveillance, and predictive analytics.
Aiboni noted that these innovations had contributed to increased equipment runtime and reduced intermittent flaring.
“Shell has successfully implemented these technologies in their operations, achieving a significant reduction in onshore flaring and nearly eliminating it in deepwater operations, surpassing a 50 per cent flare reduction overall,” she said.
Aiboni commended the National Association of Petroleum Explorationists (NAPE) for organising the five-day conference and expressed her hope that the discussions held during the event would contribute to delivering a sustainable energy future for Nigeria in the long run.
By Yusuf Yunu