Seplat Energy Plc has said its energy transition priorities were to end flaring, monetise gas, displace diesel and biomass with cleaner fuel, extend along power value chain, and target smaller-scale gas-to-power customers.
The Seplat Energy CEO, Roger Brown, said this while addressing global energy players at the Africa Energy Week in Cape Town, South Africa.
“As a leader in this space, our priorities as far as energy transition is concerned, is to end flaring, monetise gas, displace diesel and biomass with cleaner fuel, extend along power value chain and target smaller scale gas-to-power customers, whilst exploring new opportunities,” Brown said.
He noted that Seplat Energy currently produces 300MMscfd, which he said is enough to power 1GW per day, adding that the company ANOH and Sapele gas projects have the capacity to fuel another 2GW by 2024.
“But we need to displace 20GW diesel generation with utility-scale gas-to-power / renewables. We will develop bottled gas products to displace biomass with cooking gas, and extend along value chain into power generation with gas and hybrid model,” the Seplat energy CEO stressed.
According to Brown, providing more affordable and reliable energy will boost Nigeria’s economy, drive development, and create jobs.
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He described the Nigerian market as a huge opportunity for the company, noting that with a future population projected at 500 million people by 2050, Nigeria represents a huge investment opportunity across the entire energy sector.
He said improved domestic infrastructure, increased export capability, increased refining capacity, increased gas-fired capacity, improved national grid, metering, billing, payments, renewables, and clean cooking displacing biomass were clear areas of value for businesses and the Nigerians and the government.
Citing IEA 2022 Africa Energy Report, Brown said the development of Africa’s energy system offers major opportunities to stimulate the creation of decent jobs that require wide-ranging skills.
The Seplat Energy CEO, who also spoke in a panel session, ‘International oil companies: An insight into M&A activity on the continent’, said Seplat Energy is an indigenous Nigerian operator having good relationships with government and communities, strong operating, and safety record well-funded balance sheet through prudent financial management and strong cash flow, internationally accountable through dual listings and good governance, and commitment to high Environment Social Governance (ESG) performance.
He stated these had given Seplat Energy credible access to international capital markets to fund operations and M&A deals in line with its strategy.
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