French oil giant, TotalEnergies, said that has successfully reduced gas flaring in its operations in Nigeria by 75% over the last 10 years.
This follows the reduction of gas flare volume by the oil firm from 3 million standard cubic meters per day (MSCM/D) in 2010 to 0.79 MSCM/D in 2020.
According to NAN, this was disclosed by TotalEnergies’ Deputy Managing Director, Deep Water, Mr. Victor Bandele, on Thursday, August 19, 2021, during an online news conference.
Bandele said TotalEnergies had been at the forefront of the global transition to cleaner sources of energy and was committed to combating climate change.
He revealed that a further reduction of flaring is a priority and is in line with the group’s objective which saw the company transform from Total to TotalEnergies on May 28, 2021.
Bandele also announced the change of the company’s name in Nigeria from Total Exploration and Production Nigeria Ltd. to TotalEnergies Exploration Production Nigeria Ltd.
What the Deputy MD of TotalEnergies said
Bandele said the new name was approved by the company’s Nigerian shareholders on July 6, in line with the company’s vision of becoming a world-class player in global energy transition adding that TotalEnergies would continue to invest in oil, natural gas, electricity, hydrogen, biomass, wind and solar.
He said, “We want to reduce greenhouse gas emissions because we believe in it and not just because it is in vogue. We want to make good impact on our environment. We are desperate to stop routine flaring by 2030 and have been strategic towards this in the execution of our projects.’’
Bandele said TotalEnergies, through its Joint Venture with the Nigerian National Petroleum Corporation (NNPC), earned $1.4 million through the sales of Carbon Credit on the United Kingdom market in 2020.
As part of its drive towards clean energy and reduce carbon emissions, he said that the company had embarked on the installation of solar energy at its offices, retail outlets, and project sites adding to the deployment of modern technologies in its operations.
Bandele said the company had invested over $10 billion in Nigeria in the last few years and was currently a key player in the upstream, midstream, and downstream sectors of the oil and gas value chain.
He said Nigeria was vital to TotalEnergies’ operations with the country accounting for over 10% of its energy production globally in terms of exploration and production.
What you should know
It can be recalled that earlier in May 2021, the shareholders of Total almost unanimously approved the change of the company’s name to TotalEnergies which is part of its strategy to support the Paris Agreement on climate issues and provide more affordable, more reliable, and cleaner energy in the best way.
TotalEnergies also adopted a new visual identity to reflect the transformation of the company and also moved to contribute to the sustainable development of the planet facing the climate challenge, it was moving forward together towards new energies.