A Review of the Nigerian Energy Industry

Nigeria exports 18.1 mmt of LNG in one year

Nigeria exported a total of 18.1 million metric tonnes (MMt) of Liquefied Natural Gas (LNG) in 2010, the International Gas Union (IGU) has said. The IGU 2010 report, which was released recently showed that Nigeria has been able to maintain the fifth position as one of the leading exporter of LNG in the world.

According to the report, Qatar overtook Indonesia as world’s largest exporter with an increased output by over 150 per cent. Nigeria exported eight per cent of world LNG need in the year under review.

The report stated that the volume of LNG traded globally in 2010 hit 223.8 MMt with an increase of 41 MMt from 2009 and the largest year-on-year growth experienced by the industry In 2005, 11 countries were active spot LNG exporters and 12 countries were spot cargo importers.

By end 2010, these numbers have since increased to 16 and 22 respectively. “The appetite to buy LNG on a spot basis has increased significantly as the list of spot buyers has nearly doubled, whereas the list of spot sellers has increased, albeit at a slower pace” It stated that the LNG trade also has spread in terms of geography, In 2005, 13 countries exported LNG, including Algeria, Australia, Brunei, Egypt, Indonesia, Libya, Malaysia, Nigeria, Oman, Qatar, Trinidad & Tobago, the United Arab Emirates (UAE) and the U.S. From 2006 through 2010, Equatorial Guinea, Norway, Peru, Russia and Yemen also began exporting LNG.

It added that at the end of 2010, there were 94 liquefaction trains in operation, representing global liquefaction capacity of 270.9 MMtpa. “In 2011, one additional train has been commissioned (Qatar gas IV, 7.8MMtpa) and by the end of the year, one more (Pluto LNG, 4.8 MMtpa) is expected to complete construction.

Since 2005, five countries have commissioned Greenfield LNG plants: Equatorial Guinea, Norway, Peru, Russia and Yemen; whilst another seven have expanded existing liquefaction capacity: Australia, Egypt, Indonesia, Malaysia, Nigeria, Oman and Qatar IGU expected the growth of global LNG receiving capacity to continue on a strong path. “About 110 MMt per annum of regasification capacity is currently under construction and due online by the end of 2015.

The Guardian Nigeria

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