The Nigerian Liquefied Natural Gas, (NLNG) has revealed that Nigeria risks losing its market share in the international gas market.
Speaking at the ongoing 9th Practical Nigerian Content in Bayelsa, the Managing Director/Chief Executive Officer, Nigeria LNG Limited, Mr Tony Attah, said that NLNG exports and market share by market, Qatar leads the chart with 78.7MT, 24.9 per cent, follows by Australia, with 68.6MT, 21.7 per cent while, Nigeria sit at 5th, with 20.5MT and 6.5 per cent.
He averred that, if the government does take the new FID investments in Train seriously, the country might drop from 5th to 10th position by 2025, he added “we are here to enable gas as Nigeria has ridden on the back of oil for more than 50 years, it is now time to fly on the wings of gas”
He emphasised that, the next big deal for capacity building for Nigeria through NCDMB is the NLNG Train 7 as the company is 97 per cent prepared, waiting to take the FID of the project.
Attah disclosed that, in March 2019, they signed the Train 7 Nigeria Content Plan with NCDMB, which he said, was a big step towards kick starting the huge gas project that would create a flurry of activities in the oil and gas sector and contribute immensely to the nation’s economy
“This project will deliver about 40, 000 jobs if looked holistically, over a six-year window. We believe the future is bright for Nigeria and gas in the future. We have more gas than oil in Nigeria” he stated
He stressed that Nigeria is at the edge of losing its market share in the international gas market, as well as dwindling gas export, if it fails to make new investments in gas development.
The NLNG boss added that the Train 7 project is expected to expand the company production capacity by 35 per cent, that is, from 22 Million Tonnes Per Annum (MTPA) to 30 MTPA.
“At peak construction, the Train 7 project is projected to provide direct, indirect and induced employment of about 40, 000 jobs if looked holistically over the next six-year window”, he said.