Nigeria retains 4th position despite opening of Australia’s $40bn Ichthys LNG plant

Nigeria has retained its position as the fourth leading exporter of Liquefied Natural Gas (LNG), with 22 million metric tonnes (MMT) per year, despite the recent opening of Australia’s $S40 billion Ichthys LNG plant.

The opening of the new plant in Australia with 8.9 MMT of LNG annually was expected to change the current ranking of nations, especially the top five LNG exporters – Qatar with 77.2 MMT, Australia with 44.3 MMT, Malaysia with 25 MMT, Nigeria with 22 MMT and Indonesia with 16.6 MMT – in the world.

But investigations showed that the situation remained unchanged as the additional 8.9 MMT remained insufficient to lift Australia ahead of Qatar that has the capacity to export 77.2 MMT annually. Also, it showed that Nigeria’s position would increase in future with the eventual completion of the nation’s planned LNG train seven, thus enabling Nigeria to increase its LNG output from 22 MMT to 30 MMT annually.

Source: Hellenic Shipping News

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...