Did you know that Russia currently supplies 40% of Europe’s natural gas needs. It is unclear how quickly Europe can switch to LNG, given the time it takes to build LNG import terminals and LNG Storage tanks , the need for spare LNG capacity is another issue entirely…
If China imported 79 MTPA of LNG in 2021, we wonder what amount of spare LNG capacity will be freed if China switches solely to Russian gas. ( Figuratively speaking)
Africa with its 46 MTPA of LNG capacity….
A flurry of floating LNG and Small scale LNG plants are far from game changers, as they may not be able to yield the kind of LNG volumes Europe will need to be weaned off its near dependence on Russian gas.
The WAGP suffers from some level of capacity under utilisation, meanwhile Ghana “one of the partner countries in the WAGP” has opted for an LNG Import terminal, largely Africa’s first LNG Import terminal. (Meanwhile China has about 23 LNG Import terminals!). The current performance of the WAGP pretty much calls into question the present and future viability of the US$25 billion Nigeria-Morocco Gas Pipeline, which is meant to supply gas to Europe….
Besides, gas suppliers targeting Europe, will benefit from short “go to market strategies” which the Nigeria-Morocco Gas Pipeline may not offer for obvious reasons.
As it stands, land based LNG Plants will offer the scale of LNG production that Africa needs to be able to meet the growing demand for LNG in Europe and Asia.
For discerning investors, looking to help meet the project increase in LNG demand that is expected to skyrocket from 380 MTPA to 700 MTPA, the big question is how to apply for a “License to Establish an LNG Plant in Nigeria”.
Find out with Megathos Law Practice’s latest update, “How to apply for a License to Establish an LNG Plant in Nigeria_MLP“
4 key takeaways from the Megathos Law Practice update:
- Introduction to the oil and gas industry in Nigeria
- Regulatory Regime governing the LNG Industry in Nigeria
- How to apply for a license to Establish an LNG plant in Nigeria
- Considerations affecting land based LNG Plant Design
- And more!
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