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Nigeria set to emerge as third largest gas exporter by 2024

Nigeria set to emerge as third largest gas exporter by 2024

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In a presentation made to the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, on the upcoming Train-7 project, by NLNG’s General Manager, Production, Mr. Tayo Oginni, he noted that NLNG plans to take a final investment decision (FID) by December 2018.

NLNG plans to invest $7 billion on the Train-7 project which would expand its production capacity to 30 mtpa making Nigeria the 3rd largest exporter of gas in the World after Qatar and Australia.

He also stated it would procure between seven and eight new vessels which would be used to deliver the new LNG volumes from the new plant to destination markets. In addition, the firm explained the new LNG train will need about 1150 million standard cubic feet per day (mmscfd) of natural gas supplied to it as feedstock from oil fields in the Niger Delta.

According to Oginni,

“Train-7 will take us from 22 million tonnes per annum to 30 million tonnes per annum. The Front-End Engineering Design (FEED) contract has just been signed. We see there is a significant amount of jobs, more than 8,000 jobs coming to the island and this is at the same time the Bonny-Bodo road is being built.

“We are targeting FID for the end of the year, it is a lot of work to get there and the market we are targeting is the 2023 to 2024 market.”

Expansion Plans for the Train-7

Recall that the Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni recently signed the front-end engineering design contract of the Train 7 of the Nigeria Liquefied Natural Gas Limited.

With six trains currently operational, NLNG’s plant, on Bonny Island in Rivers State, is capable of producing 22 Million Tonnes Per Annum (MTPA) of LNG, and 5 MTPA of NGLs (LPG and Condensate) from 3.5 Billion (standard) cubic feet per day (Bcf/d) of natural gas intake.

NLNG’s near-term expansion plans include construction of the seventh train to complement the existing six train structure, which when in operation will increase the company’s total production capacity to 30 million tonnes per annum (MTPA) of LNG.

About NLNG

Nigeria LNG Limited was incorporated as a limited liability company on May 17, 1989, to harness Nigeria’s vast natural gas resources and produce LNG and Natural Gas Liquids (NGLs) for export.

It is owned by four shareholders, namely, the Federal Government of Nigeria, represented by the Nigerian National Petroleum Corporation (NNPC) – 49%, Shell Gas B.V. – 25.6%, Total Gaz Electricite Holdings France – 15%, and Eni International – 10.4%

 

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