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Sunday, June 24, 2018
Nigeria is losing out on increasing its LNG sales as frontier countries across the continent move faster in developing recent gas discoveries. Funding and infrastructure challenges have been delaying Nigeria’s expansion of its NLNG facility.
The country has been dragging its feet in building Train 7 at its NLNG facility for more than eight years. It has also pretty much nixed a couple other LNG projects that have been on the drawing board for over a decade, namely the Olokola LNG and Brass LNG projects.
While Nigeria is procrastinating, new projects across the continent are moving at a steady clip towards development, with one even coming online. Mauritania and Senegal have disposed of both political and infrastructural constraints to develop their cross maritime border discoveries. According to recent reports, Kosmos and BP are moving towards taking the FID by the end of this year.
And then there is Cameroon’s FLNG project brought to fruition by state-run SNH, Perenco, and Golar LNG. The project is the first operational FLNG facility in Africa and the second in the world. The project’s inaugural cargo was exported in May.
On the other side of the continent you have both Mozambique and Tanzania planning LNG facilities, with Mozambique having both onshore and offshore projects in the early development stage.
While there is a demand for LNG coming out of the Asian markets, Nigeria is losing out on these buyers as it drags its feet in moving forward with Train 7. Of course its natural gas resources can always be used for domestic consumption, but with the substantial amount of those resources both domestic use and exports are possible once it puts more of the right infrastructure in place.
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