Business Hilights
Tracking Nigeria's Headline Business News Online

NGFCP boss set for US to address EFI summit on gas commercialization

Program Manager, Nigerian Gas Flare Commercialization Programme (NGFCP), Justice Derefaka will once again; be in the United States of America this week to address global investors in gas commercialization.

This is coming barely one month after he took the campaign of amassing deep pocket investors across the world for the unprecedented gas deposits being daily flared across the oil-rich Niger Delta to the world summit on gas capturing and utilization in Huston Texas.

In a telephone interview on Sunday, Derefaka exclusively confided in Business Hilights Abuja Bureau chief that “I’ll be delivering a keynote speech at the Energy Frontiers International (EFI) organised Conference with the theme: Gas Flare Monetization and Syngas Conversion Forum 23 – 25 October 2019 at the Hotel Granduca, Houston, Texas”

“My paper is titled: ‘Harnessing Nigeria’s Flare Gas for Socio-Economic Development & Climate Change Impact – The Strategic Imperatives’

Additional details made available showed that the latest conference is coming as a special program produced for a fifth year in a row with the support of the World Bank’s Global Gas Flaring Reduction Partnership (GGFR).

The association’s invitation are to global gas experts at annual meetings program which feature authoritative and up-to-date presentations from key stakeholders in the industry about a wide range of new technologies, processes and energy resources under development worldwide, and a rich opportunity to participate in the informal and intimate professional network – away from the typically large and unfocused commercial conference crowd – that the group has sustained for almost four decades.

EFI is incorporated in Washington D.C. under section 501 (c) (6) of the U.S. Internal Revenue Code as a business trade association. Unlike most trade groups and associations EFI is non-advocacy and does not promote or take positions with respect to technologies or public policy issues, and does not engage in lobbying or promotional activities.

Gas Flare capture technology
Flare gas capture and use in the field, EFI site visit | Williston Basin, North Dakota

Business Hilights gathered that the EFI’s Gas Flare Monetization and Syngas Conversion Forum brings together international stakeholders responsible for technologies, strategies, and projects aimed at the recovery and monetization of associated, stranded and renewable natural gas, biomass and waste, the reduction of GHG emissions, and the production of syngas from a variety of feedstocks for conversion to high-value fuels and chemicals. Business casual attire

After four decades EFI meetings remain — uniquely — unsponsored, non-advocacy and non-profit havens for high-quality knowledge sharing, discussion and networking amongst international industry peers.

Significant fluctuations in the price of oil over the past five years are a reminder of the intrinsic volatility in the sector, while continued robust natural gas demand growth (including LNG exports, chemicals and natural-gas fired power generation) and the increasing pace and scope of the transition to energy from non-fossil fuel sources keep companies engaged in developing scenarios, strategies and technologies to remain competitive and mitigate risk.

These factors along with increasing pressure for sustainability are driving innovation and investment in areas as diverse as small-scale distributed methanol, biofuels, bioconversion and biochemicals, CO2 recycling, flared and associated gas monetization, waste-to-energy, catalysis, and synthetic fuels — all topics covered extensively by EFI.

Energy Frontiers International (EFI) is a not-for-profit, non-advocacy association with a global membership of companies involved in emerging energy technologies, fuels, processes and development.  For more than three decades EFI has hosted members-only forums, site visits, industry roundtables and workshops, providing employees of its member companies with an unbiased assessment of the commercial status of important emerging energy processes and technologies, their commercial readiness, relative competitive position, and deployment prospects.

Industry analysts say such high net-worth meetings attended by NGFCP boss will among other things, grow the number of genuine investors to the Nigerian massive gas reserves waiting for exploration and capturing for revenue and job creation in the oil producing comminutes.

Billions of cubic meters of natural gas is flared annually at oil production sites around the globe. Flaring gas wastes a valuable energy resource that could be used to support economic growth and progress. It also contributes to climate change by releasing millions of tons of CO2 to the atmosphere.

During oil production, the associated natural gas is flared when barriers to the development of gas markets and gas infrastructure prevent it from being used.

The World Bank Group has a leadership role in gas flaring reduction through the Global Gas Flaring Reduction Partnership (GGFR), a public-private initiative comprising international and national oil companies, national and regional governments, and international institutions. GGFR works to increase use of natural gas associated with oil production by helping remove technical and regulatory barriers to flaring reduction, conducting research, disseminating best practices, and developing country-specific gas flaring reduction programs.

gas flaring in N Delta
Gas flaring in parts of Niger Delta

Ending poverty and boosting shared prosperity is also an integral part of GGFR’s strategy. Natural gas resources help countries move toward a more sustainable energy path. It is the fossil fuel with the lowest carbon intensity, at half the footprint of coal at the point of combustion. It can be the least-cost source of flexible electricity supply for grid-based systems with fluctuating supply and demand.