The Minister of Oil and Gas Mohammed Oun participated via video conference in a high-level international panel discussion on the future of sustainable energy through a global perspective on the sidelines of the sixth Nigeria International Energy Summit.
The panel discussion included the impact of demand and supply on energy, the growth rate of the global economy, the current high inflation, the performance of financial institutions, the volatile economic conditions, the effects on market instability, in addition to the security conditions and wars that have a negative impact on the stability and security of energy markets, as well as the mechanisms for achieving zero emissions and carbon removal (net zero carbon), promoting the circular carbon economy framework and carbon capture, utilization and storage.
Oun said that the ministry paid great attention to achieving its strategic vision with the aim of raising the efficiency of advanced technical operational performance and providing a safe work environment, pointing out that the huge challenges require concerted efforts to implement the strategy of the Ministry of Oil and Gas in the various activities of the oil and gas industry with real partners and availability of resources (security situation – competence – financing).
Oun also talked about the depletion of oil wealth (the use of fossil fuels for energy production), the implementation of energy transition projects, the intensification of the use of renewable energy sources, and the world’s participation in making greater progress in achieving a sustainable mix of clean energy (reducing harmful greenhouse gas emissions that harm the environment and the climate).
He pointed out that the biggest challenge is for African countries to unite and make every effort to achieve comprehensive development for the African people, especially for the provision of electricity and cooking gas to every African citizen.