Nigeria calls for investments in deepwater assets, infrastructure to develop natural gas resources

February 27, 2024/in /by Rudolf Huber

Nigeria is often called a gas province with a drop of oil on top and yet, most of what it produces is oil with much of the gas being flared. The country would be able to pull off a couple of LNG projects with the flare gas alone, let alone anything new from on or offshore. But for that to work it would need two things and I don’t see either of them for real on the horizon. It would need to reform its flare gas penalty regime into something like “use it or lose it” giving someone interested in the gas access to it if the leaseholder does not show serious efforts in using it and it would have to be a little more friendly to companies sinking cash into it. Multinationals are leaving right now. Not a good sign.

Sitting on an estimated 203 Tcfg, Nigeria is on a mission to monetize its natural gas resources and become a leading LNG exporter to global markets. Yet to accelerate exports, the country requires substantial investment…

worldoil.com

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