Reduction of gas flaring, carbon emissions not driven by penalties — Total Energies MD

The Managing Director (MD) of Total Energies EP Nigeria Limited, Mike Sangster, has stated that efforts to reduce gas flaring and carbon emissions are not driven by penalties.

He said these are rather driven by the need to monetise the commodity by putting it in the domestic market or the country’s energy.

Sangster stated this at the just concluded 2022 NOG Conference and Exhibition held in Abuja.

Speaking during a session on the “Future of Nigeria’s Energy Sector in the PIA Era”, he opined that penalties are not the answer to flaring.

His words: “The drive to reduce flaring and carbon emissions I mean, it is driven by two things, you know, one, we want to monetize the gas and it makes much more sense to put it to the market, the domestic market or to Nigeria energy than it does to flare it.”

ALSO READ FROM  NIGERIAN TRIBUNE

• Nurse Holds Doctor Hostage In OAU Teaching Hospital, Resident Doctors Plan Strike
• Woman’s Corpse, Unconscious Man Found Inside Office In Aba After Four Days
• Hoodlums Attack Lagos Governor’s Press Crew Bus In Tinubu’s Convoy, Two Injured
• [BREAKING] #EkitiDecides2022: INEC Declares APC’s Biodun Oyebanji Winner Of Guber Poll
• Top 10 Business Ideas In Nigeria You Can Start With 100,000 Naira
• 2023: Kwankwaso Will Not Be Deputy To Obi —NNPP

He disclosed that the company has also put in place programmes to reduce its carbon footprint.

Sangster also assured that the company would maximize oil production and continue to push for gas development in the domestic and export market.

However, he stressed the need for companies to venture into investments that would maximize the demand for gas.

“So I think anything that can be done to facilitate the demand for gas I think is encouraging. And I know that there’s the idea to move at some point towards a willing buyer willing seller, and under the PIA because I think at the moment the gas price is regulated,” he added.

He further stressed the need to put in place the right market mechanism and fiscal terms to encourage the move towards non-associated gas.