Nigeria LNG Snapshot
Review of the Petroleum Industry Act 2021
As the demand for LNG rises, one question comes into limelight, will the pending LNG projects in Africa rise to provide the shortfall of LNG required by the world at large?
More than 30 LNG cargoes are now cruising in the Atlantic towards North West Europe and the Mediterranean for an overall tonnage likely to exceed 2 million metric tons. Source ICIS.
One question arises, will the pending LNG projects in Nigeria rise to provide the shortfall of LNG required by the world at large?
With 6 LNG producing countries in Africa + 26Trains + 46 MTPA of LNG = African LNG
LNG companies in Africa, may have the potential to meet growing demand for LNG by utilising Small Scale LNG projects and Floating LNG vessels as a gas monetisation strategy. As it stands, LNG demand in the world, is estimated to hit 700 million tonnes per annum of LNG by 2040.
In this update Review of PIA 2021_NLNG Snapshot _MLP, Megathos Law Practice gives a snapshot of Africa’s largest LNG company to give a faint idea of the LNG potential in Nigeria.