Amid sharp decline in LNG utilisation rates in many parts of the world last year, gas exports from West African producers, especially Nigeria, showed some resilience in 2020, trading 27.6 billion cubic feet (bcm) of gas equivalent to the total 39 bcm traded by the region.
The country’s export was down one per cent in 2019, and not far off the 30 Bcm/year (22 million mt/year) capacity of the six-train Nigeria LNG (NLNG) facility. That was despite sharp falls in LNG utilisation rates in other parts of the world last year, particularly in the U.S. over the summer, while spot-exposed Egypt halted LNG exports almost completely in the April-September period.
Noting that much of Africa’s gas supply growth would come from Nigeria, PwC, in its Africa Oil and Gas Review 2020, themed: “Energising a New Tomorrow,” said the positive outlook for natural gas, often termed the renewable bridging fuel due to its lower carbon footprint, will see stronger price and demand recovery as countries move to rebuild their economies…
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