Blessing Abimbola
Gas is a transition fuel.
On present challenges of the sector, the chairman of SCiN said shutdown of the transnational pipelines (TNP) for one full year has grossly impacted the economy especially the energy sector.
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In trying to reactivate and reopen the TNP, he said, over 460 illegal connection points were straped on it.
He confirmed that Shell Nigeria has just lifted the force majeure that was imposed on the heat of the pipeline vandalism. This affected supply of gas to the NLNG.
On this score, the industry expert advised the next administration to regard fight against oil theft as number one agenda so export of crude can be guaranteed.
The next challenge waiting for the next administration, Okunbor stressed is attracting investment capital back to the sector. If our projects are not attractive, it means they are not free from impediments.
Also, heavy debts to the IOCs, disclosing the Shell is owed 200m with another IOC next on the line.
We are still chasing these debts.
All On is punching above its weight.
He also said that Shell has aquired an international energy company (Dayster Energy which is being scaled up.
Saying Shell is playing in all traditional areas, he added that it was also playing big in gas, and that Shell was discussing with other groups such as the NLNG, NCDMB, NNPC, among others on how to get it right.
On his worst fear, the chairman of SCiN said it was how to deliver seven big ticket projects ongoing in Nigeria despite the numerous challenges.
This is what states the incoming administration in the face at the moment.
Read alsoNigeria loses N16.25trn to crude oil theft in 12 yrs NEITI
Responding to questions, Osagie made it clear that all industry players should know they all are in same boat.
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