Leadership (Abuja)
Ese Awhotu
8 November 2009
Abuja — Chairman of Pan Ocean Oil Corporation,Chief Festus Fadeyi, says the project, the largest Clean Development Mechanism (CDM) project in Africa, will provide 135 million standard cubic feet per day for electricity, when it is full capacity.
He said the project has been successfully registered under the United Nations Clean Development Mechanism and is designed to reduce green house gas emission by more than two million tons of carbon dioxide annually. According to him, gas which otherwise would have been flared will be sold to developed countries to generate revenue for the company to meet its obligation under the Kyoto Protocol. Fadeyi explained that the project has important local environmental benefits such as reduced emissions of dangerous gases like Nitrogen Oxides, NOx and Volatile Organic Compounds, VOCs.
He noted that this will improve the working conditions of the employees and the living standards of the nearby community. The project is being run in conjunction with the Nigerian National Petroleum Corporation. Unfortunately, most oil companies operating in Nigeria, government and individuals that set up power plants and several other facilities in the last few years have largely ignored this concept.
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