Financial Energy Review
……All Projects to End Routine Flaring Intact…..
Seplat Energy plc, foremost indigenous energy company, has reassured all stakeholders of its commitment to drSeplat Energy’s Sustainability Commitments on Track
iving and ensuring a sustainable business and creating increased value for people and the environment.
The company also reiterated its resolve to addressing the dual challenges of ensuring energy security and meeting climate change mitigation targets.
The Director, New Energy, Seplat Energy, Mr. Okechukwu Mba, gave the assurance during a panel session at the Society of Petroleum Engineers (SPE) Nigerian Council’s 47th Nigeria Annual International Conference & Exhibition (NAICE) in Lagos, themed “Energy Security: Exploring the Interplay Between Technology, Market Dynamics and Organizational Capabilities”.
Mba, who represented Mr. Roger Brown, CEO Seplat Energy Plc, at the session, said every molecule of gas Seplat Energy produces is targeted at displacing utilizable diesel, and the company’s new gas plant developments now come with Liquefied Petroleum Gas (LPG) installations, which promote clean energy and discourages the use of biomass for cooking.
“We are committed to ending routine gas flaring by 2025, and all projects aimed at making this a reality are on track,” Mba assured. In a bid to end gas flaring as targeted, Seplat Energy has continued to progress efforts to secure evacuation options for unprocessed associated gas from the Sapele Flow Station. Alongside this, work has continued on the construction of the Sapele Integrated Gas Plant (SIGP), which is scheduled to be completed during H2 2024. Once operational, SIGP offtake has the potential to materially reduce Group Scope 1 emissions.
Other ongoing key flare-out projects, including the Western Asset Flares Out (installation of VRU compressors), Sapele LPG Storage & Offloading Facility, Oben LPG Project and Ohaji Flares Out Project, are on track for completion by their respective due dates.
The Seplat New Energy Director also referenced the company’s Tree4Life initiative, which recently saw the NEPL/Seplat Energy joint venture and the Edo State Government sign an agreement that allocates 6,000 hectares of land from Edo State protected forest reserves to enable a large-scale tree planting initiative by Seplat Energy Plc. This is in furtherance to increase forest cover and carbon sequestration efforts within the region and ensuring a sustainable environment for living.
The efforts by Seplat Energy and other operators to drive LPG penetration in Nigeria also received commendations from the 2024 SPE NAICE participants and organisers, as the moves are expected to boost supply of LPG in Nigeria and po!ssibly bring down prices of the commodity, thus promoting accessibility and energy security.
Also speaking to Seplat Energy’s commitment to ensuring sustainable business partnerships, Mba said all efforts are being deployed to check any form of production deferment and downtime by ensuring strong partnerships with suppliers, who are continuously supported to succeed in delivering value to Seplat Energy and its other stakeholders.
On the current opportunity available to Nigeria to ensure energy security, he said: “For Nigeria, it is important we use what we have (which is gas) to address the energy challenges we have and further boost energy access for our people.”
