Nigeria’s gas sub-sector
Nigeria exported 19.8 million metric tonnes per annum, MMTPA of liquefied natural gas, LNG in 2012, accounting for more than eight percent of globally traded LNG, and making it the world’s fourth largest LNG exporter.
The country has had three LNG projects, with capacity for 23 MMTPA, on the drawing board for upwards of nine years. None of them – Olokola LNG (10MMTPA), Brass LNG (5MMTPA), and the seventh train of the Bonny LNG (8MMTPA), looks likely to be sanctioned before 2015. The Olokola project seems to have collapsed even before takeoff. Why? We ask.
Nigeria is reportedly Africa’s largest holder of natural gas reserves (2013 reserves estimates: 182 trillion cubic feet, Tcf).
The country has not been fully utilised this resources for the nation’s domestic electricity supply which is dire at best.