By Adaobi Rhema Oguejiofor
The Executive Director of Rainoil Limited, Mr. Emmanuel Omuojine, has said that the optimal utilization of gas is a guarantee towards achieving energy security and equity in Africa.
Omuojine stated this while speaking at the just concluded 2023 Africa Refiners and Distributors Association Conference (ARDA) Week in South Africa.
During his presentation, titled “The Critical Role of Liquified Petroleum Gas (LPG) in African Energy Transition,” Omuojine argued that despite the growth in renewable energy projects, oil and gas will remain a significant part of Africa’s energy mix, with gas accounting for at least 25% of the energy sector by 2050.
He noted that Africa has over 620 trillion cubic feet of natural gas reserves and this will be critical to its energy security.
The Rainoil Boss added that for Nigeria to harness the benefits of energy transition, it has to fully implement the Petroleum Industry Act (PIA), especially as it relates to the optimal utilization of the country’s vast gas reserves.
With regards to the LPG sector, Omuojine maintained that while Nigeria has significantly improved its annual per capita consumption of LPG from 1.8 kg in 2015 to at least 5 kg presently, it still imports over 60% of its LPG demand.
He added that this was an anomaly because Nigeria has the most proven gas reserves in Africa at over 209 trillion cubic feet.