By DAYO ADESULU
Natural Gas: A Key Player in the Shift to Cleaner Energy
As the International Energy Agency identifies natural gas as the fastest-growing fossil fuel globally, its adoption across industrial, commercial, and domestic sectors is surging. Projections indicate that by 2030, natural gas will become the second-largest energy source, surpassing coal and following oil.
Five Reasons Why Natural Gas is Revolutionizing the Energy Landscape
Natural gas is increasingly recognized as a “transition fuel” in the global pursuit of sustainability and climate action. Governments, corporations, and individuals are increasingly embracing its benefits. Here are five compelling reasons driving this transformation:
Lower Carbon Emissions: A Cleaner Alternative
Natural gas plays a critical role in achieving net-zero emissions goals. Compared to other fossil fuels, it generates approximately 45% and 30% less CO2 emissions than coal and oil, respectively, when combusted.
Abundance of Resources: Nigeria’s Natural Gas Reserves
Nigeria ranks ninth globally and second in Africa for proven natural gas reserves, which are projected to sustain current production levels for up to 60 years. According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), as of January 1, 2024, reserves of Associated Gas and Non-Associated Gas are estimated at 209.26 trillion cubic feet (TCF).
Cost Efficiency: Saving on Energy Expenses
Natural gas stands out as a cost-effective energy solution, being 70% cheaper than diesel—commonly used for machinery and generators in commercial and residential settings. The Compressed Natural Gas (CNG) initiative in Nigeria is anticipated to save over N2 trillion in import costs for Premium Motor Spirits (PMS) and Automotive Gas Oil (AGO), benefiting individuals and businesses by reducing fuel expenses and enhancing energy security.
Versatility: Meeting Diverse Energy Needs
Natural gas is remarkably versatile, capable of generating electricity, fueling vehicles, powering homes, and serving as feedstock for chemicals and fertilizers. Its adaptability allows for seamless integration into existing energy systems, supporting renewable sources by providing backup power when necessary.
Supply Flexibility: Ensuring Reliability and Security
Natural gas can be efficiently transported via pipelines for direct supply or converted into Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) for easy storage and long-distance transport to areas lacking pipeline access. CNG can be delivered within a 250 km radius, while LNG can be transported over 1,000 km, serving as a backup energy source even when piped gas is available. This flexibility in transportation, storage, and supply ensures a reliable and resilient energy supply, bolstering global energy security.
