The Business Year (TBY), a leading media group publishing economic information and business intelligence in emerging markets, has partnered with The Petroleum Club of Lagos, one of the foremost private members’ clubs for leaders of the oil and gas industry, to host “Gas for Development”, a closed-door, high-profile roundtable discussion as part of The Business Year’s Global Roundtable Series.
The event will gather representatives across the entire value-chain of the gas sector, from upstream, midstream and downstream, to government and financiers, who will discuss the monetization and commercialization of Nigeria’s natural gas resources and the impact of gas exploitation on sustainable development across various sectors.
Confirmed speakers include, Dr Maikanti Baru, Group Managing Director of NNPC; Dr Ebi Omatsola, world-renowned petroleum explorationist; Tony Attah, Managing Director & CEO of NLNG; Austin Avuru, CEO of Seplat; Dele Kuti, Global Head of Oil and Gas at Stanbic Bank.
Despite being most well known as an oil nation, Nigeria is also blessed with ample natural gas, of which it boasts reserves three times larger than oil. In fact, at 187 trillion cubic feet as of 2017, the West African country is the continent’s number one gas-reserves holder and the world’s ninth largest. Despite its resource wealth, Nigeria is still fighting the paradox of incessant power shortages (Nigeria records among the very lowest power generation levels in the world) and high electricity prices, a situation further exacerbated by a population growing at 3 per cent yearly. Besides its use in electricity, the applications of natural gas are numerous and span many economic sectors, making the resource a crucial tool to feed Nigeria’s envisaged economic growth.
The roundtable will be a unique opportunity to address this conundrum by gathering leaders from the gas sector who may not otherwise find themselves in a room together. The event will be held on Tuesday, June 19, at Eko Hotel, Lagos, and will be moderated by TBY’s regional director, Mr Paul Loomis.
Roundtable discussions are just one of the signature features of The Business Year, taking place across some 30 countries, and touching a wide range of topical issues. TBY is in Nigeria to conduct research on the country’s economy and business climate through over 150 face-to-face interviews with business and government leaders across all sectors. This year marks the fifth anniversary of TBY in Nigeria, with The Business Year: Nigeria 2019 being published in the first quarter of 2019.