The Federal Government has taken a significant step towards enhancing its gas sector regulatory framework through a strategic partnership with the United Kingdom’s Office of Gas and Electricity Markets (Ofgem).
The partnership was sealed during a high-level meeting in London between the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, and officials from Ofgem and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The collaboration aims to promote regulatory innovation and capacity development in Nigeria’s gas sector, with a focus on domestic utilization, regional energy integration, gas-to-power projects, and expansion of infrastructure through targeted investment and innovation.
According to Ekpo, the partnership will enable Nigeria to draw insights from Ofgem’s practices in promoting investor confidence and consumer protection.
Ekpo emphasized the need for strong collaboration between Nigerian and UK-based firms to boost investment in gas development, stressing that partnerships between the two countries could attract investments to bolster Nigeria’s gas infrastructure. He highlighted the importance of developing regulatory frameworks that support the integration of renewable gases, such as hydrogen, into Nigeria’s energy mix.
The Minister also underscored Nigeria’s commitment to reducing methane emissions and promoting decarbonization in upstream operations. He sought Ofgem’s experience in overseeing emissions management, stating that the partnership would help Nigeria forge pathways to a more prosperous and energy-secure future.
The partnership is expected to attract investments that will enhance efficient delivery and utilization of gas in Nigeria. With the country’s vast gas reserves, the collaboration with the UK is seen as a significant step towards unlocking the potential of the gas sector and promoting economic growth.
