How fast is the Nigerian gas industry likely to grow?
Very fast, going by planned investment by the industry. Upstream, NNPC and the majors are spending several billions of dollars on gas-gathering projects, determined to beat the 2008 zero-gas flaring deadline and all new deepwater projects have to find commercial outlet for their gas to commence. Given its gas reserves of 159 trillion cubic feet of gas, placing it the 9th largest in the world and the massive flaring of associated gas, Nigerias potential for monetising the resource is very bright indeed. Nigeria LNG Limited is the countrys largest consumer of natural gas and by 2006 treble its 1999 base capacity. Its $5.5 billion three-train Bonny Island plant has a capacity of approximately 9.1 million tonnes a year. Work has commenced on its $2.1 billion NLNGPlus (Trains 4 and 5 further expansion) project. After several years of negotiations, the $450 million West African Gas Pipeline (WAGP) project, which will extend an existing gas pipeline from Lagos to Takoradi in Ghana across two
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