BOOMING DEMAND
Nigeria joins race to meet booming demand for LNG with new plant
London — Nigeria LNG is taking its first step to increase liquefied natural gas output by more than a third, after years contemplating an expansion to keep up with the world’s major producers. The producer has signed front-end engineering and design contracts for a seventh facility with joint ventures that include Saipem, TechnipFMC and Chiyoda. Nigeria is joining nations from the US to Australia in increasing output of the fastest growing fossil fuel to help meet rising demand from China to the Middle East. Its latest plan would boost production to 30-million tonnes by 2024 from 22-million tonnes now. Total, a Nigeria LNG shareholder, said last week the plant expansion was "very important" as the market was "booming again". Qatar, Australia and the US will probably account for 60% of global liquefied natural gas supply by 2023, according to the International Energy Agency. Nigeria, which supplied the world with 7% of the super-chilled fuel in 2017, does not want to miss out. Global...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.