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Monday, February 07, 2022

Regulatory applause for Shell over gas investment - ITREALMS

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Leading energy company, Shell Nigeria Gas (SNG), has received accolades from industry regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), for deliberate and active investment in Nigeria’s critical gas infrastructure to supply gas for powering industries in key locations in the country.
L-R CEO,NMDPRA, Mr. Farouk Ahmed; MD, Shell Nigeria Gas, Mr. Ed Ubong; General Manager,
Shell Energy Nigeria, Mr. Markus Hector; and Corporate Relations Manager,
Shell Nigeria Gas, Mr. Tunde Olaleke, recently in Abuja.
The Chief Executive of NMDPRA, Farouk Ahmed, said Nigeria needs accelerated gas infrastructure to deepen domestic gas distribution across Nigeria.
Ahmed spoke when he met the Managing Director, SNG, Mr. Ed Ubong, and the General Manager, Shell Energy Nigeria, Mr. Markus Hector, in Abuja recently to discuss how to deepen investments in domestic gas operations in Nigeria.

Ahmed said, “I commend Shell Nigeria Gas for investing heavily in critical gas infrastructure to supply gas for power generation to industries,” adding that his agency was putting in place the right framework to encourage competition, competitive prices, flexibility of supply and investments in gas infrastructure.

“The Federal Government’s desire to boost infrastructure development, especially in the midstream, necessitated the enactment of the Petroleum Industry Act (PIA) and the NMDPRA will put the necessary regulations to make business favourable to investors,” he said.

The NMDPRA helmsman encouraged SNG to continue to be transparent, responsible and to practise good corporate governance in its business dealings in the country.

Managing Director, SNG, Mr Ed Ubong, highlighted that clear guidelines and regulations that support and protect investments are key in boosting investors’ confidence in the industry.

He said, “SNG currently distributes natural gas for power generation to industrial clusters around Ogun, Abia, Bayelsa, Rivers and Lagos States and we are currently exploring markets along the Ajaokuta-Kaduna-Kano pipeline project for investment opportunity to take gas to industries up north of Nigeria.”

Speaking in the same vein, General Manager, Shell Energy Nigeria, Mr Markus Hector, commended the Federal Government for enacting the Petroleum Industry Act which he said would support the growth of the gas industry in Nigeria.

“There are vast business opportunities for Shell gas business in Nigeria and we plan to significantly expand our investment in gas distribution under the right regulatory environment,” Hector said.

Pix: L-R Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed; Managing Director, Shell Nigeria Gas, Mr. Ed Ubong; General Manager, Shell Energy Nigeria, Mr. Markus Hector; and Corporate Relations Manager, Shell Nigeria Gas, Mr. Tunde Olaleke; during Shell Nigeria Gas’s courtesy call on the CEO of NMDPRA in Abuja … recently.

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