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The NOG Conference & Exhibition (NOG) 2022 opened today at the International Conference Centre, Abuja. The event is expected to build partnerships for the Nigerian oil and gas sector. The organisers said prospective partners for the industry were expected to attend the event from Asia, US, India, Turkey, Qatar, Spain and Portugal.

The NOG Conference & Exhibition is Nigeria’s foremost energy conference and will review the country’s positioning within the evolving global energy landscape, with a focus on funding and emerging opportunities to transform its energy industry, the organisers said in a statement today sent to Financial Nigeria, a Silver Media Partner to NOG 2022 taking place from 4 – 7 July 2022.

“This event has become imperative as the world tiptoes the fragile tightrope of the 'new different' reality in the global energy system, the statement said,” adding that “Africa, and in particular, her largest economy, Nigeria, has been hit hard but is also at a crossroads of immense potential.”

Since the inception of the Ukraine crisis, the global economy has been significantly disrupted, leading to surging inflation and a potential food crisis – especially in emerging economies like Nigeria. While global markets have witnessed a surge in oil prices of over $100 per barrel, Nigeria’s oil and gas sector has been unable to boost its reserves - in fact, this loss has been compounded by low oil production hovering at around 1.2 million bpd.

In light of this, the theme for the 21st edition of the NOG Conference & Exhibition is “Funding The Nigerian Energy Mix For Sustainable Economic Growth”, and it will focus on the strategies that will be employed by the Nigerian government and private sector leaders to navigate the emerging energy business environment – helping to set the nation’s energy agenda for the next 12 months.

One of the key opportunities for Nigeria within this dynamic is to expand its gas supply and energy cooperation with the world. The EU, which gets a substantial percentage of its oil and gas from Russia, is seeking alternative sources of energy. With Nigeria already supplying France, Portugal, Spain and Belgium, it is on the radar to also supply other EU nations, particularly as the country is currently working to grow its gas reserves from 206 trillion cubic feet to 600 trillion cubic feet.

However, to be in a position to be able to fully meet the EU’s demand, Nigeria needs to develop its infrastructure and increase investment. This is at the core of the various discussion and debates that will be happening at the NOG Conference & Exhibition, according to the statement.

Dignitaries participating include Minister of Petroleum Resources Timipre Sylva, Minister of Industry, Trade & Investment Otunba Niyi Adebayo, and OPEC Secretary-General Mohammad Sanusi Barkindo.

Industry leaders include Sen. Margery Chuba Okadigbo, Chairman-Board of Directors, NNPC; Mele Kolo Kyari, Group Managing Director, NNPC; Richard Kennedy, Chairman & Managing Director, Chevron Nigeria/Mid-Africa Business Unit & Chairman, OPTS; Mike Sangster, Managing Director & Chief Executive, TotalEnergies EP Nigeria Limited; Richard Laing, Chairman & Managing Director, ExxonMobil Affiliate Companies in Nigeria; Osagie Okunbor, Managing Director, The Shell Petroleum Development Company of Nigeria Limited & Country Chair, Shell Companies in Nigeria; Elohor Aiboni, Managing Director, Shell Nigeria’s Exploration and Production Company Limited; and Philip Mshelbila, Managing Director & Chief Executive Officer, Nigeria LNG.

Various industry stakeholders have named NOG as one of the key events in Nigeria’s energy sector for strategic business planning and decision-making process and are looking forward to the conversations that will shape the nation’s energy agenda for the next 12 months and beyond.