Nigeria's NNPC working with investors and partners to boost Nigeria capacity - CEO
ABU DHABI, Oct 3 (Reuters) — Nigerian National Petroleum Corporation (NNPC) is working with investors and partners to bring back substantial capacity in Nigeria to supply gas to the market, CEO Mele Kolo Kyari said on Tuesday.
In three-four years to come, Nigeria will be the gas hub in west Africa, he said during the ADIPEC energy conference in UAE’s capital Abu Dhabi.
“What we’re doing is to make the company ready for IPO,” he added, “our law allows that over a period of time we can actually transform to become a quoted company … we can also sell equity in the company. So it’s a massive process that requires transformation.” (Reporting by Alexander Cornwell; Editing by Sharon Singleton)
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”