Nigeria Banks on NLNG Expansion For More Revenue

Reuters are reporting that Nigeria Liquefied Natural Gas Company (NLNG) could unlock three times as much gas as the country’s proven reserves and create hundreds of thousands of jobs if it goes ahead with a proposed expansion plan.

NLNG is a venture between state-owned Nigerian National Petroleum Corporation (NNPC), Royal Dutch Shell, Total and Eni to produce LNG for export.

It currently operates six trains – liquefaction and purification facilities – and the company is primed to add another two trains.

Building Trains 7 and 8 would require total investment of US$25 billion.

Nigeria has the world’s ninth largest proven gas reserves, at 187 trillion ft3, and NLNG estimates scope for reserves of 600 trillion ft3 if the company expands.

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NLNG, which has 23 LNG carriers, has generated US$85 billion in 17 years with assets of more than US$13 billion.

 

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