Tetracore CEO Emphasizes Need for Tech Integration to Unlock Africa’s Gas Potential
Tetracore CEO Emphasizes Need for Tech Integration to Unlock ... THISDAY Newspapers
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The Key to Nigeria’s Prosperity Lies in Abundant Natural Gas Reserves, Says Tetracore CEO
Oluchi Chibuzor
Introduction
The CEO of Tetracore, Olakunle Williams, a Diamond Sponsor at the 2023 NOG Energy Week, has emphasized that Nigeria’s prosperity is dependent on its abundant natural gas reserves and sustainable industrialization.
Collaboration for Success
Williams highlighted the importance of collaboration among local, regional, and continental investors in achieving success in Nigeria’s energy sector.
Investment for Tech Integration and Advancement
Williams stressed the urgent need for investment to achieve technological integration and advancement in Africa’s gas industry. This would unlock energy potential and pave the way for cleaner access and a generally cleaner society.
The NOG Energy Week
The NOG Energy Week is Sub-Saharan Africa’s largest energy conference. It brings together policymakers, stakeholders, and energy leaders from around the globe to discuss the industry’s most immediate challenges and ambitions. The goal is to achieve energy security for Nigeria while navigating a secure, sustainable, and just energy transition.
Challenges in Access to Affordable and Clean Energy
In his presentation on “Exploring Emerging Opportunities for Future Energy Demand,” Williams analyzed the three significant challenges faced by people in accessing affordable and clean energy in Africa: availability, affordability, and sustainability.
Tetracore’s Impact on Gas Utilization
Williams highlighted Tetracore’s impact on the gas utilization initiative, showcasing how it has influenced industrialization and energy access. The company has created over 2,000 jobs through the industries it supplies gas to, while also achieving significant cost savings and reducing harmful air emissions by 60%.
Africa’s Energy Deficit and Growth Potential
Despite being home to abundant energy resources, Africa still faces a huge energy deficit, inhibiting its growth potential in industrialization. With Africa’s share in global manufacturing expected to increase, the demand for reliable energy will also grow. Additional funding and technology adoption in the African gas sector are crucial to meet this demand.
Leveraging Nigeria’s Gas Reserves
Nigeria, with over 200 Tcf of proven gas reserves, has the opportunity to leverage its abundant and cheap natural gas reserves to support sustainable industrialization. The development of midstream and downstream gas infrastructure, including LNG terminals, can meet the growing energy demand in Africa and globally.
Sustainable Provisions for Abundant Energy Resources
To make the best use of Africa’s abundant energy resources, key sustainable provisions must be put in place. This includes technology transfers and adoption to decarbonize the gas value chain with carbon capture and storage. Investments in research and development are also essential to stay ahead of industry trends.
Recommendations for Cooperation and Incentives
Williams recommended stronger cooperation between local, regional, and continental investors to unlock funding and meet the growing energy needs of the continent. Incentives should be put in place to unlock domestic sources of capital, including from institutional investors.
SDGs, Targets, and Indicators Analysis
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 13: Climate Action
- SDG 17: Partnerships for the Goals
The article discusses the importance of sustainable industrialization, energy access, and clean energy in Nigeria and Africa. These issues are directly connected to SDG 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. The article also highlights the role of technology adoption and cooperation among investors, which aligns with SDG 9 (Industry, Innovation, and Infrastructure) and SDG 17 (Partnerships for the Goals). Additionally, the mention of decarbonizing the gas value-chain relates to SDG 13 (Climate Action).
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase the share of renewable energy in the global energy mix
- SDG 9.2: Promote inclusive and sustainable industrialization
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning
- SDG 17.16: Enhance the global partnership for sustainable development
Based on the article’s content, the specific targets that can be identified include increasing the share of renewable energy in the global energy mix (SDG 7.2), promoting inclusive and sustainable industrialization (SDG 9.2), integrating climate change measures into national policies (SDG 13.2), and enhancing the global partnership for sustainable development (SDG 17.16).
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Percentage of renewable energy in the energy mix
- Number of jobs created in the gas industry
- Reduction in harmful air emissions
- Investment in research and development
- Cooperation and partnerships between local, regional, and continental investors
The article mentions indicators that can be used to measure progress towards the identified targets. These include the percentage of renewable energy in the energy mix, the number of jobs created in the gas industry, the reduction in harmful air emissions, investment in research and development, and cooperation and partnerships between local, regional, and continental investors.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | Increase the share of renewable energy in the global energy mix (7.2) | Percentage of renewable energy in the energy mix |
| SDG 9: Industry, Innovation, and Infrastructure | Promote inclusive and sustainable industrialization (9.2) | Number of jobs created in the gas industry |
| Investment in research and development | ||
| SDG 13: Climate Action | Integrate climate change measures into national policies, strategies, and planning (13.2) | Reduction in harmful air emissions |
| SDG 17: Partnerships for the Goals | Enhance the global partnership for sustainable development (17.16) | Cooperation and partnerships between local, regional, and continental investors |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: thisdaylive.com
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