Nigeria to build liquid natural gas plant

LAGOS – Nigeria and an alliance of European energy giants have agreed to invest US$1, 25 billion (N$7,5 billion) to build a sixth liquid natural gas plant, part of Africa’s biggest industrial project, the firms said.

Nigeria LNG Ltd is a joint venture of the Nigerian National Petroleum Corporation which holds a 49 per cent stake, the Anglo-Dutch giant Shell with 26,5 per cent, France’s Total with 15 per cent and the Italy’s Eni with 10, 4 per cent. The “sixth train” of its gas production and export plant will bring the firm’s overall capacity to 22 million tonnes of liquid natural gas (LNG) and five million tonnes of liquid petroleum gas and condensate per year.Since the firm began work five years ago, it has found export markets for its gas – which is mainly used fuel power plants – in the United States, Mexico, Italy, France, Turkey, Spain and Portugal.”LNG production in Nigeria took about 30 years to get off the ground, but since first production in 1999, the rate of growth has been the fastest in the history of the LNG industry,” said NLNG managing director Andrew Jamieson.Increasing production of liquid natural gas is seen in Nigeria as key to diversifying its industry away from the crude oil export which currently accounts from more than 95 per cent of foreign exchange revenue.It could also have environmental benefits as more natural gas is processed for export and less is “flared off” from the rigs and flow stations that dot the polluted Niger Delta region, heart of Africa’s biggest oil industry.- Nampa-AFPThe “sixth train” of its gas production and export plant will bring the firm’s overall capacity to 22 million tonnes of liquid natural gas (LNG) and five million tonnes of liquid petroleum gas and condensate per year.Since the firm began work five years ago, it has found export markets for its gas – which is mainly used fuel power plants – in the United States, Mexico, Italy, France, Turkey, Spain and Portugal.”LNG production in Nigeria took about 30 years to get off the ground, but since first production in 1999, the rate of growth has been the fastest in the history of the LNG industry,” said NLNG managing director Andrew Jamieson.Increasing production of liquid natural gas is seen in Nigeria as key to diversifying its industry away from the crude oil export which currently accounts from more than 95 per cent of foreign exchange revenue.It could also have environmental benefits as more natural gas is processed for export and less is “flared off” from the rigs and flow stations that dot the polluted Niger Delta region, heart of Africa’s biggest oil industry.- Nampa-AFP