The Place Of Petroleum In Energy Transition In Nigeria

Fossil fuels, which produce massive volumes of greenhouse gases (GHGs) thatcause climate change and other major effects on our planet, are the foundation ofthe global energy mix. Renewable energy sources have been more prevalent inreducing climate impacts within the past 20 years. This study assesses thecontribution of the petroleum and gas industry contribution to the energytransition in Nigeria, while taking energy policies and funding issues into account.It turns out that renewable energy sources and natural gas, a more ecologicallyfriendly fossil fuel, cannot provide all of the demand. Additionally, there areintrinsic prospects for the LNG industry to grow and for energy consumption torise. Accordingly, natural gas will serve as a bridging fuel during the switch togreener energy sources. Therefore, completely abandoning petroleum and gasduring this transition could be detrimental because the petroleum and gas industrypossesses the expertise and infrastructure necessary for large-scale energy projects.