Connect with us

Business News

Future of Nigeria’s Gas Sector Very Bright—OVH Energy

Published

on

By Modupe Gbadeyanka

With the largest natural gas reserve in Africa and the 9th largest in the world, Nigeria has the prospect to earn big from the industry if the necessary tools are put in place.

This was the opinion of the Chief Executive Officer of OVH Energy Marketing Limited (Oando licensee), Mr Huub Stokman, at the CEO roundtable held at the five-day 4th Annual Nigeria Petroleum Summit (NIPS) in Abuja.

The summit, which kicked off on Sunday, June 6, 2021, provided a platform for both local and international stakeholders in the energy sector to rub minds to effectively develop the oil and gas sector for economic growth.

At the gathering, Mr Stokman said Nigeria can leverage its reserves to diversify and promote local growth, noting that OVH Energy Marketing was best placed to deliver to the local market.

“This is the decade for gas exploration. Nigeria has the largest natural gas reserve in Africa and the 9th largest in the world, so Nigeria can leverage its reserves to diversify and promote local growth and OVH Energy Marketing is best placed to deliver to the local market,” he said.

The energy expert commended the efforts of the organisers in bringing together industry stakeholders to share ideas on how to improve the energy sector.

“This is an ideal opportunity to bring together these experts to exchange ideas & opinions, to understand trends and the future of the industry,” he said.

Mr Stokman also stated the importance of the presence of the downstream oil and gas sector, explaining that whilst upstream is key for production, downstream is responsible for delivering products to customers or end-users. He emphasised that the seamless integration between the two sectors was crucial.

In recent times, Nigeria has positioned itself strategically to become the foremost oil and gas investment destination, through ongoing strategic sectoral reforms and engagement with host communities.

This year’s NIPS conference tagged From Crisis to Opportunities: New Approaches to The Future of Hydrocarbons continues to engage industry experts and investors on developing hedging strategies to combat prevailing sectoral challenges aimed at unlocking inherent value in the near future.

The summit’s overarching message of building the Nigerian oil and gas sector through the collaborative efforts of all relevant stakeholders through the exchange of new technologies and industry know-how cannot be overemphasized.

News13 mins ago

Friends gift media personality, Denrele Edun, a Lexus SUV as his 40th birthday present (Video)

News17 mins ago

TNG Interview: FG should save 20,000 species of fishes in the Niger Delta before they go extinct – Hon Abiante

Politics29 mins ago

G7 Pledge Over 1 Billion Vaccine Doses To Poor Nations, Boris Johnson Says

World39 mins ago

India unlikely to accept back four women who converted to Islam and joined the Islamic State

News1 hour ago

”It was the worst decision of my life”- Denrele Edun reveals he once dated a man (video)

Health1 hour ago

One Scary Side Effect of Drinking Too Much Caffeine, According to Science

World2 hours ago

Ex-Muslim who became Catholic now says ‘Rome is lost, and the Qur’an is the road to truth’

News2 hours ago

Constitution review: FCT natives demand Abuja be made a State

Politics2 hours ago

APC Chairman In Plateau State Sacked From Office

News2 hours ago

Shade Ladipo: “Nigerians don’t like when people find hap-p*nis”

News2 hours ago

My grandson’s generation should not know “Up NEPA” – Pastor Tunde Bakare

World2 hours ago

Is Israel Illegally Displacing Arabs In East Jerusalem?

News3 hours ago

BREAKING: Zambian President, Lungu collapses at Defence Force Day event

Business News3 hours ago

Agriculture, Key to Africa’s Quest for Continued Growth and Sustainability

News3 hours ago

Again, gunmen attack Zaria again, abduct residents

World3 hours ago

Pakistan: Mosques collecting donations for Afghan Taliban

News3 hours ago

Photo of Turkey-based Nigerian man allegedly found inside a bottle buried in his uncompleted building

News3 hours ago

Nigerian Air Force bomb mistakenly strays into wedding party in Niger State

Business News4 hours ago

Nelson, Abebrese Plant Trees for Green Ghana Initiative

News4 hours ago

Nigerian Air Force bombs wedding party in Niger State

News17 hours ago

Aunt mourns niece’s death, accuses her pastor husband of domestic violence

News21 hours ago

Anambra 2021: LP chooses Agbasimelo, ‘Oga-Ndi-Oga’ Movement boss as its guber candidate

News22 hours ago

Senate President visits wounded soldiers in Kaduna, donates N10m

News22 hours ago

Pretty Mike attends Toyin Lawani’s wedding with convey of baby mamas and their babes (video)

News19 hours ago

Caroline Danjuma says as she wished her rift with Davido over Tagbo’s death never happened

News20 hours ago

Banditry: Things are getting worse daily in Zamfara, Gov Matawalle cries out

News3 hours ago

BREAKING: Zambian President, Lungu collapses at Defence Force Day event

News8 hours ago

Police justifies use of tear gas on June 12 protesters

News16 hours ago

Nkechi Blessing Sunday: “A man that can be snatched is not worth fighting for”

News12 hours ago

Tension in Abia as Army, ESN clash, soldier shot

News3 hours ago

Nigerian Air Force bomb mistakenly strays into wedding party in Niger State

World22 hours ago

Virginia: Muslim school board member from jihad-linked mosque tells high school students to remember their ‘jihad’

News11 hours ago

Boko Haram luring new recruits, spies with N5,000 – Governor Zulum

News18 hours ago

There are no grazing routes in Bayelsa – Governor Diri replies Buhari

News17 hours ago

Photos and video of #IstandwithBuhari protesters in Abuja (video)

World21 hours ago

Pakistan: Muslim mob of over 300 attacks Christian village after villager spills water on clothes of young Muslim

News24 hours ago

NDLEA intercepts 100,000 bottles of codeine syrup at Onne Port –spokesman

News7 hours ago

Diver swallowed by a humpback whale miraculously survives

News7 hours ago

Accident: “Hit and Run” vehicle kills Okada rider in Osun

News21 hours ago

Photos of Celebrities at Toyin Lawani’s traditional wedding

Trending