Business

Nigeria to become third largest exporter of gas– NLNG

Nigeria to become third largest exporter of gas-- NLNG

Nigeria may soon become the third largest exporter of gas in the world if the ongoing plans of the Nigeria Liquefied Natural Gas (NLNG) Ltd to reach a Final Investment Decision (FID) on its Train-7 project by December is successful, the NLNG has said.

Presently, Nigeria is the fourth exporter of gas in the world with six operational trains (gas plants) having combined capacity to produce 22 metric tonnes per annum (mtpa) of Liquefied Natural Gas (LNG).

The General Manager Production of NLNG, Tayo Ogini, made this known on Saturday while making a presentation on the facility located at Bonny Island.

The presentation was to familiarize the Minister of State for Petroleum Resources, Ibe Kachikwu, on the progress made on the project so far.

In 1989, the first gas plant was built, and plans to build Trains 7 and 8 since 2007 till date are yet to become reality.

Should the planned $7 billion investment on the Train-7 project come to fruition, it is expected to increase Nigeria’s gas production capacity to 30 mtpa, making the country the third largest exporter of gas in the world after Qatar and Australia.

Read also: Power generation now stands at 7000MW, distribution at ‘all-time high’ of 5,222MW— Fashola

Ogini said the gas produced in Nigeria was world-class, adding that the NLNG had built a reputation of reliability in its gas supplies around the world.

In his response, Kachikwu, extolled the management of NLNG for the efforts, noting that company was a testament to the fact that things could be properly done in Nigeria.

He recalled that during the cash crunch of 2016, NLNG saved the day and helped to avert a shutdown of the nation’s economy.

According to the minister, the Train-7 project is fantastic but pointed out that more work still needs to be done. He urged NLNG to raise its production projection to 40 mtpa over the next 30 years.

Kachikwu, while inspecting the project, assured that the 2019 general elections would not inhibit the expansion plan, noting that the FID on Train-7 and its construction would not cease.

In June, Nigeria had signed a regional gas pipeline agreement with Morocco. The pact would see Nigeria exporting gas to countries within the West Africa sub region, extending to Morocco and Europe, and also reduce gas flaring in Nigeria and encourage diversification of energy resources in the country.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!