BOOK REVIEWS 01/07/2022
Olawuyi SAN Unveils Book on Role of Natural Gas in Global Energy Transition
To meet the projected growth in demand for natural gas, a frontline energy lawyer and global vice-chair of the International Law Association (ILA), Prof. Damilola Olawuyi (SAN), has co-edited a new book, The Palgrave Handbook of Natural Gas and Global Energy Transitions.
In the book, he highlights the important roles of natural gas in global energy transition, as well as how gas-rich countries, such as Nigeria, can leverage their comparative advantages as safe, reliable and environmentally sustainable suppliers of this transition fuel.
Olawuyi said the book was written out of the need to provide in-depth knowledge of the transformative implications of ongoing global energy transitions for natural gas markets across the world.
Published by Palgrave Macmillan, United Kingdom, the 619-page book is co-edited by Olawuyi and Eduardo Pereira, a Brazilian energy law expert.
With case studies from Africa, Asia, Europe, North America, Latin America, South America, Australia and the Middle East, the book introduces its readers to the latest legal, policy, technological, fiscal and contractual, and sustainability innovations in natural gas markets in response to ongoing global energy transitions.
Olawuyi said, “like Nigeria, many natural gas-rich countries across the world are introducing new legal requirements, contractual mechanisms, and industry guidelines to meet the projected growth in demand for natural gas in light of the energy transition, in a safe, reliable and environmentally responsible manner.
“Failure to understand and comply with such emerging standards could pose significant legal, business and transition risks for clients, and their lawyers alike, and may result in complex litigation,” he stated.
He noted that the book outlines the risk mitigation strategies and contractual techniques — focusing on resilience planning, low-carbon business models, green procurement, climate-smart infrastructure development, transparent climate disclosures and reporting, gender justice, and other sustainability safeguards — that are required to maximise the full value of natural gas as a catalyst for a just and equitable energy transition and for energy security across the world.
While commenting on the book, the Executive Chairman of the African Energy Chamber and Chief Executive Officer of Centurion Law Group, NJ Ayuk, said it makes a powerful case on the role of natural gas in pursuing just energy transitions.
He commended the authors for providing such “a thorough look at the regulatory, financial, and business measures necessary for gas-producing nations to capitalise on their natural resources.
“They give us success stories to consider and rightly challenge us to consider the part women play in our evolving energy industry. The result is a compelling read that, I believe, makes a powerful case for pursuing just energy transitions.”
On his part, Professor Kim Talus, who is the McCulloch Chair in Energy Law and Director of Tulane Center for Energy Law and Professor of European Energy Law at the University of Helsinki, Finland, noted that this book could not come at a better time.
He noted: “In-depth studies on the gas sector transition in various parts of the world will provide guidance for market actors, governments, and experts.
Clearly, this book is what can be called must read.”
Similarly, André Giserman, an Advisor, Office of the Director General, Brazilian National Agency of Petroleum, Natural Gas and Biofuels stated that the book provides timely, comprehensive, cross-country, and cross-disciplinary direction that will be especially useful for policymakers, regulators, industry professionals and scholars in natural gas markets worldwide.
Olawuyi concluded by thanking “all the expert contributors to the book, as well as the many helping hands at Afe Babalola University, Ado Ekiti (ABUAD) for their dedication and support, without which the publication of the book would not have been possible.