[By Sopuruchi Onwuka]
Nigeria’s space in the world gas market is set to expand with plans by the government and its partners in the Nigeria Liquefied Natural Gas (NLNG) Limited to progress with expansion plans that would see the company acquire new processing lines.
Managing Director of NLNG, Mr Tony Attah, stated that the company which is owned by the Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni is currently working on the feasibility studies for its eighth and ninth liquefaction trains.
Mr Attah’s presentation at the virtual conference hosted by the Nigerian Gas Association (NGA) was delivered by the General Manager in charge of the company’s operations, Mr Falade Adeleye.
The Oracle Today reports that the clearance for NLNG to progress with two additional trains after entering project stages for Train-7 comes as the global demand shift to cleaner energy and shutting window for petroleum projects add a tone of urgency for Nigerian gas projects.
Already most European countries have set targets for switch from fossil fuels by 2040, global credit agencies including the World Bank (WB) and the International Monetary Fund (IMF) have ruled out funding for petroleum projects, and the automobile industry accelerates production of electric vehicles to take the market space for internal combustion engine vehicles.
Also major energy firms, including partners in the NLNG project, have all signed cleaner energy commitments; while solar, wind, hydrogen and geothermal energy sources capture the attention of investors and policy makers.
However, Mr Attah pointed out that natural gas still has the advantage of short to medium term transition window, arguing that gas provides acceptable cleaners energy options the world could rely on for a long period to come.
He projected that energy demand would continue to grow faster than renewable energy developments, and that emerging supply gaps would continue to be filled by gas as the global population balloons to about 9.0 billion people by 2050.
Nigeria and Africa, with their younger population, would lead a growth boom in the period and also represent a significant segment of global energy demand in the future, Mr Attah pointed out.
He noted that transition from fossil fuel would not be soon in Africa and Nigeria where, he pointed out, the facilities and infrastructure to support demand for new battery powered automobile technology are yet to be developed.
He called on African governments to harness the continent’s full energy potentials, install regulations and policies that promote investments, and apply gas to power the continent and empower its people through value chain business opportunities.