As the delay in reaching the final investment decision (FID) for the triad of Olokola Liquefied Natural Gas (OKLNG), Brass LNG and Train 7 projects continues, Nigeria risks losing a big chunk of the high-demand Asian LNG markets as competition from other exporters grows.

The inability to secure long-term market commitment and delay in the passage of the Petroleum Industry Bill (PIB) continue to constitute a major setback to the projects, BusinessDay has learnt.

Dolapo Oni, energy analyst at Ecobank, says there is a huge demand around the world for LNG, particularly in Asia and Europe, noting that Nigeria is not expanding capacity as much as it should because of domestic gas requirements.

According to global management firm McKinsey, four factors will be the major drivers of future market dynamics and prices in the global gas market. They include the pace and volume of North American LNG exports, demand growth for LNG in Asia, LNG supply from Australia, East Africa, Middle-East and Russia, and the price of oil.

McKinsey explains that North American gas developers are keen to export their plentiful supply of cheap LNG to higher priced markets, adding that by the end of 2013 they had applied for export permits for more than 380 billion cubic metres per year, equivalent to all of the world’s current liquefaction capacity.


http://businessdayonline.com/2014/07/time-running-out-for-nigerias-lng-projects/#.U85vDWbTXMI

End time

Nigeria-on-the-brink

We shall make it in due time

How e k consine me

committee is going to be set up by the FG

Now players running on pitch like it's training.

I comment my Reserve!!

i would comment... but let me read it first

This is the more reason why NLNG should complete this recruitment and employ plenty people so that Nigeria can meet world demand. TIME IS RUNNING OUT.

really?

that sounds to me that the (unserious) boys in the gas markets can take there leave now

Op its a pity that Nigeria current leaders and economic team have little to offer when it comes to building GDP but noise making 4 political gains & their lootings...

https://www.nairaland.com/1824179/10-choices-regret-10-years

MrRhymes101: h

you ok?

Sometimes you wonder why Nigeria always manages to bungle even its best opportunities. So pathetic!

I reserve ma comment

..

Phonon: This is the more reason why NLNG should complete this recruitment and employ plenty people so that Nigeria can meet world demand. TIME IS RUNNING OUT.

really? when first class and 2.1 graduates of engineering failed the [size=58pt]WAEC[/size] nlng trainee test, i wonder who passed?

Phonon: This is the more reason why NLNG should complete this recruitment and employ plenty people so that Nigeria can meet world demand. TIME IS RUNNING OUT.

It seems you are looking for job bro

ksusi: committee is going to be set up by the FG

you forgot to add, 7man committee lolz

Naaaaaaahhhhhhhhh. If you do need a job, let me know. My statement was a joke.

princeFAD:

It seems you are looking for job bro

Brass LNG should come on stream by 2017 while Chevron's Escravos Gas To Liquid and Bonny LNG are all also doing quite well, Olokola LNG is however a dead project, both the govt and the IOCs have basically pulled out.
If only NASS would pass the PIB and reverse the trend of major IOCs increasingly divesting from Nigeria. Virtually all the major projects are on hold due to policy instability .

I'm just here to read the comments

A First class degree has nothing to do with passing a test. If an average student prepares for a test, he will do better than an excellent student who didn't prepare well. It is just that simple. Besides, anyone who can regurgitate lecture notes in exams can get a First Class in Nigerian universities these days.

alotofgrace:


really? when a first class graduate of elect/elect failed the [size=58pt]WAEC[/size] nlng trainee test, i wonder who passed?

Dey r busy impeaching gov's, deputy's n speakers.

i am a year older today

want to use this opportunity to invite nairalanders to my birthday bash today...

Seun, I'll be expecting you

u all are invited

location is...

Phonon: A First class degree has nothing to do with passing a test. If an average student prepares for a test, he will do better than an excellent student who didn't prepare well. It is just that simple. Besides, anyone who can regurgitate lecture notes in exams can get a First Class in Nigerian universities these days.

and who didnt prepare for the test bro?

Everyone prepared. I am just saying that not everyone prepared the same way and sometimes bad luck just happens. Some other times a little more effort would have made the difference. Life is unfair.

alotofgrace:

and who didnt prepare for the test bro?

I'm looking forward to people's opinion on this, If they have an opinion (that is) or if they have an Inkling of what the article is about..

Phonon: Everyone prepared. I am just saying that not everyone prepared the same way and sometimes bad luck just happens. Some other times a little more effort would have made the difference. Life is unfair.

was it that guy dat left 10mins into the exam or the lady that was shading some 2 boxes per question? common men. anyways who don cross don cross.

back to the matter, what could be the issue with LNG? they recently awarded cash in billions to Universities... this shouldnt be happening now because the Asian markets had earlier shown interest in the north american supply

My heart skiped @ the mention of OKLNG. these are huge employment generating
firms that can turn the economy of the country around in few years.
I did my 6mths SIWES there in 2009 and i'm very much aware of how
irresponsible our govt can be by not showing commitment in the best of
ideas.
OKLNG is jointly owned by SHELL(19.50%), CHEVRON(19.50%), BG(14.25%) and
NNPC(40%) but BG pulled out coz of poor commitment from the FG and
there share was shared btw NNPC and Chevron(22.74%)....unfortunately,
Shell and Cheron pulled out in 2012 and 2013 respectively for same
reason and rendering many jobless in the process. I'm aware Dangote and
other locals biz mogul are coming in to save OKLNG...pray itz true.

Same
collabo. with brass and others.

Nigeria need serious prayer from bad leadership coz our suffering isnt
because of what we dont have but greed and selfishness.