{"id":74498,"date":"2023-08-01T15:08:29","date_gmt":"2023-08-01T14:08:29","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=74498"},"modified":"2023-08-01T15:08:29","modified_gmt":"2023-08-01T14:08:29","slug":"we-need-to-increase-access-to-affordable-reliable-and-sustainable-energy-seplat-ceo","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/we-need-to-increase-access-to-affordable-reliable-and-sustainable-energy-seplat-ceo\/","title":{"rendered":"We Need To Increase Access To Affordable, Reliable And Sustainable Energy \u2013 Seplat CEO"},"content":{"rendered":"

Access to affordable, reliable and sustainable energy is crucial if Africa is to achieve all 17 United Nations Sustainable Development Goals (SDGs), and energy access will be the biggest driver of social and economic development in Africa going forward, the Chief Executive Officer, Seplat Energy Plc, Roger Brown has said.<\/p>\n

\"SeplatBrown said this at the opening ceremony of the ongoing Society of Petroleum Engineers (SPE) Nigeria Annual International Conference & Exhibition (NAICE) 2023 held in Lagos. He spoke on the theme of the SPE NAICE 2023 dubbed \u2018Balancing Energy Accessibility, Affordability, and Sustainability: Strategic Options for Africa\u2019.<\/b><\/p>\n

According to him, Nigeria needs to focus on enabling the entire energy value chain, from wells to payments. He emphasized on the need to\u00a0create a resilient and efficient power grids\u00a0and put in place\u00a0an attractive regulatory and pricing regime to encourage investment and innovation across the chain.<\/p>\n

\u201cIt is important to recognise that gas has a place as transition fuel and Africa has a right to use its resources. The country needs to encourage off-grid solutions for remote areas, leapfrog technologies by moving straight to renewables where it makes sense, and develop sales and distribution infrastructure for clean cooking fuel like bottled gas,\u201d the Seplat Energy CEO said.<\/p>\n

\u201cPricing must balance affordable energy with attractive returns for the companies providing it.\u00a0We have to improve governance and attractiveness of African energy providers to ensure lowest cost of capital. There is the need to also increase investment in African energy from just 3% of global energy investment today.\u00a0Cleaner cooking fuel must be a more attractive proposition than collecting wood, which is free, he added.<\/p>\n

Global investment needed to achieve net zero target by 2050 is projected at $3.5 trillion per annum
\n(around 1.3% of annual global GDP), Mr. Brown said, pointing out that the headline figure hides some divergent dynamics and frictions.<\/p>\n

He called for allocation of capital to developing economies which will be responsible for most of the growth in emissions, reallocation of capital away from hydrocarbon sector (divestment, restricting capital, engagement), and allocation of capital to low-carbon technologies.<\/p>

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Speaking on the need to ensure sustainability, the Seplat Energy CEO said\u00a0increasing Africa\u2019s access to energy should not come at the expense of the environment.\u00a0\u201cAfrica has huge natural gas resources that can be utilised to deliver significant social and economic gains at low cost to the environment. Renewables were essential to achieve universal energy access across Africa.\u00a0Africa also has significant mineral resources essential for batteries and fuel cells,\u201d he explained.<\/p>\n

\u00a0Brown noted that \u201cdelivering universal access to energy across Africa will deliver huge social and economic benefits.\u00a0But it will only be attractive if governments can create the right pricing and regulatory regimes to make it both attractive to invest, and affordable for consumers. Africa has the right to develop and must use its natural resources to do that.<\/p>\n

\u201cThe transition cannot be funded solely by debt. Access to energy and energy security is critical and Africa needs affordable, reliable, sustainable and modern electricity for all\u00a0<\/i>as SDG7.\u201d<\/p>\n

Nigeria, he stated, needs to move away from reliance on diesel\/petrol generators; as such move would \u00a0improve health, and lower cost of electricity, which is severely holding back development in all sectors.<\/p>\n

\u201cGas is the transition solution. Upstream oil and gas development is critical to fund the transition but needs to be much more efficient, as e need to eliminate theft \/flaring \/ leaks, and operate with lower carbon intensity.\u00a0Africa needs to balance the \u201cE (environment)\u201d and \u201cS (social development)\u201d and North and South must work together in a balanced way, which means we must balance energy security with affordability and sustainability,\u201d the Seplat CEO advised.<\/p>\n","protected":false},"excerpt":{"rendered":"

Access to affordable, reliable and sustainable energy is crucial if Africa is to achieve all 17 United Nations Sustainable Development Goals (SDGs), and energy access will be the biggest driver of social and economic development in Africa going forward, the Chief Executive Officer, Seplat Energy Plc, Roger Brown has said.<\/p>\n","protected":false},"author":6,"featured_media":47106,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[8958],"coauthors":[2391],"class_list":["post-74498","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-seplat-energy-plc"],"yoast_head":"\nWe Need To Increase Access To Affordable, Reliable And Sustainable Energy \u2013 Seplat CEO - National Wire<\/title>\n<meta name=\"description\" content=\"Access to affordable, reliable and sustainable energy is crucial if Africa is to achieve all 17 United Nations Sustainable\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/we-need-to-increase-access-to-affordable-reliable-and-sustainable-energy-seplat-ceo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We Need To Increase Access To Affordable, Reliable And Sustainable Energy \u2013 Seplat CEO - 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