Nigeria shines at African Energy Awards, as “Decade of Gas” emerges as best African energy project in 2022

The Nigerian Government’s  “Decade of Gas” initiative has been honoured with the Gas Monetization Award, emerging as the leading African energy project of the year, during the 2022 edition of the African Energy Awards, held on the sideline of the ongoing African Energy Week 2022 conference, in Cape Town, South Africa.

The Nigerian National Petroleum Corporation Limited, NNPCL, and two Nigerians in charge of multinational corporations also carted away three other awards in different categories for contributions to the development of the energy industry in Africa.The award was presented to all the winners during African Energy Week’s (AEW) Gala Dinner, attended by high-level energy stakeholders including African Energy and Hydrocarbons Ministers and global leading energy market players, and sponsored by global energy and chemicals company Sasol, the African Energy Chamber (AEC) announced the winners of the African Energy Awards 2022.

President Muhammadu Buhari had in March 2022,  launched the ambitious plan as part of Nigeria’s target to entirely power its economy with gas by the year 2030 and monetise its proven gas reserve.

According to the organiser, Nigeria was recognised based on its commitment to deploying Liquified Natural Gas(LNG) as a major catalyst to achieving Africa’s commitment to the attainment of the global energy transition and net zero.

The organiser of the  African Energy Week while presenting Nigeria the award revealed that the DoG initiative has paved the way for the investment in the development of Nigeria’s natural gas resources, which is being used to fund the country’s energy transition.

Dr. Justice Derefaka, Technical Adviser on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Nigeria, speaking  the idea behind the Nigeria’s national gas policy at the conference, noted that the initiative was dedicated to moving Nigerian from an oil dependent country to a gas based economy.

He said,”For quite some times, we have been dependent on crude oil. The truth is that we have a little oil and a lot of gas. If upstream operators focus on gas, then we could become the fourth largest gas producer globally.”

The Nigeria National Petroleum Corporation Limited, NNPCL was also honoured with the National Oil Company of the Year Award, for transforming into a limited-liability company – with its upstream, mid-stream, and downstream operations serving as the backbone of Nigeria’s hydrocarbon market success.

Late Mohammed S. Barkindo, the former Secretary-General of the Organization of Petroleum Exporting Countries OPEC, who died in June 2022,  was posthumously honoured with the  Lifetime Achievement Award, for shaping Africa’s energy market success.

Dr. Benedict Okey Oramah, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank) was also named the African Energy Person of the Year(2022) for the role her played in financing African hydrocarbon production and investment despite the refusal of international finance institutions to approve funding for development of hydrocarbons in the continent.

According to the organiser, in an era when fossil fuel funding is being restricted by wealthy nations, Dr. Oramah enacted a series of mechanisms to ensure private sector investments maximize across Africa’s hydrocarbon industry to drive industry growth.

Perenco,  Europe’s first independent oil and gas company, recognised with the Operational Excellence Leader of the Year Award, for introducing innovative oil and gas solutions in Africa, specifically designed to optimize upstream activities across the African market.

Proscovia Nabbanja, CEO of the Uganda National Oil Company, was honoured with the Chief Executive Officer of the Year Award, for the role he played in managing the Government of Uganda’s commercial interests in the petroleum sector with utmost professionalism and innovation. He was praised for ensuring that the country’s resources are exploited in a sustainable and profitable manner.

The multiple recipients of the award include TotalEnergies Namibia Rodgers Beall, Founder Fortesa Africa; Kosmos Energy Ltd. ;Ousmane Ndiaye,Permanent Secretary at COS-PETROGAZ; British Petroleum(BP).

Others are Pam Darwin, Retired Vice President, Sub-Sahara Africa, Exploration and New Ventures. ExxonMobil; H.E. Bruno Jean Richard Itoua, Minister of Hydrocarbons, Republic of Congo; Peter Kutemann, Founder and Chairman of Dietsmann.