Leadership (Abuja)

Nigeria: NLNG Exports U.S.$17 Billion Worth of Associated Gas in 12 Years

By Juliet Alohan, 1 August 2013

The Nigeria Liquefied Natural Gas (NLNG) Limited has said it exported associated gas worth about $17 billion in 12 years.

The company said it has converted about 92 billion cubic meters (bcm) of associated gas to export 968 Liquefied Natural Gas (LNG) and 145 Natural Gas Liquids (NGL) product cargoes cumulatively within the period 1999 to 2011.

The company's General Manager Commercial, Patrick Olinma, disclosed this on Thursday at a public forum tagged "commercial week" in Abuja.

NLNG stated that with its $12 billion investment portfolio, it is contributing about four per cent of Nigeria's Gross Domestic Product (GDP) per year while fulfilling its domestic LPG supply obligations and delivering about five per cent of global LNG demand.

Olinma, however, added that the company has also found recent encroachments on the sanctity of its founding Act by various government agencies unpleasant.

He further listed other challenges of the company in the global LNG market to include the impacts of US shale gas revolution, discoveries in some parts of East Africa and Australia, alternative energy on NLNG primary markets among others.

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