South Korea, Japan and Spain account for 53 percent of Nigeria LNG expor

lng_exportationSouth Korea, Japan and Spain accounted for 53 percent of Nigeria Liquefied Natural Gas (NLNG) exported in 2013 as shown    by                     International Gas Union (IGU) report, which was made public recently.

Nigeria exported a total of 16.89 million tonnes of LNG from six trains of projects in 2013 about 15 percent less than 19.95 million tonnes recorded in 2012.

Three countries-Japan, South Korea and Spain cumulatively had a total of 8.97 million tonnes of LNG from Nigeria, 53 percent of the Nigeria total LNG export in 2013. Japan had the top spot with total of 3.82 million tonnes of LNG exported by Nigeria. The country is believed to have taking over the leading position from Spain and maintained the position in the past three years.

South Korea imported 2.80 million tonnes of NLNG overtook France to occupy the second place, while Spain with the importation of 2.35 million tonnes of NLNG, lost is second place to South Korea during period under review.The total volume LNG imported by other countries from Nigeria are less than 2 million tonnes in 2013.

The report shows that the largest proportion of LNG exported from Nigeria went to Asia Pacific region. A total 7.79 million tonnes of LNG was exported to the region, representing 46 percent of total LNG exported in 2013. Europe occupied the second place with total of 4.97 million tonnes of LNG while Asia occupied the third place with 1.35 million tonnes of LNG in 2013.

However, the report also shows that Nigeria was able to maintain her fifth position as one of the leading exporters of LNG in the world. According to the report, Japan maintained is position as world’s largest exporter with an increased output 0.53million metric tonnes.

Nigeria exported seven per cent of world’s LNG need in the year under review. The report revealed that the volume of LNG traded globally in 2013 stood at 236.8m metric tonnes with a decrease of 0.84million metric tonnes from 2012.

Nigeria Liquefied Natural Gas Limited (NLNG), had in January 2014 celebrated the export of its 3000th LNG cargo from its Bonny Island Terminal in Rivers State, since the maiden trip in October 1999. The milestone cargo’s destination is Marmara LNG Terminal for Botas Petroleum Pipeline Corporation in Turkey.

NLNG, according a company statement said, “ it currently processes for export and domestic use, more than four trillion cubic feet of associated gas which was previously flared, thereby helping to preserve our environment and support Nigeria’s economic growth. “The bulk of that, he said, is now converted to liquefied natural gas (LNG) and natural gas liquids (NGLs) for both export and domestic uses, thereby positively impacting on the Nigerian gas flaring status, and helping to improve the environment whilst converting a previously wasted resource into wealth for the nation.

Since its October 9, 1999 debut cargo, which was delivered to  Montoir LNG Terminal, France, the statement explained, NLNG has grown to what has been described as Africa’s largest single private sector industrial investment, safely and reliably supplying about seven percent of total world LNG demand.

North and West Africa have been at the frontiers of gas production in the region, contributing to more than 90 percent of regional output. However, recent discoveries in East Africa, specifically in Mozambique and Tanzania, are shifting the focus of the global exploration and production industry. Discoveries in these two countries have been estimated to total more than 3 trillion metric tonnes of natural gas reserves, 20 percent of Africa’s total current reserve base, potentially transforming these countries into major global gas hubs.

–  BusinessDay

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