· Nigeria’s to produce 30 million tons of Natural Gas per annum
· Country to become the largest producer of natural gas in Africa
Nigeria announced a production of 30 million tons of liquefied natural gas per year over the next few years, which will help the country to become the largest natural gas producer of Africa. The Western African country has the potential to supply up to 20% of the world’s natural gas n requirements by 2025, according to the latest report of the African Energy Chamber on Africa’s Energy Outlook for 2020.The total natural gas reserves across the world is estimated at nearly 200 billion cubic feet of gas reserves, which is enough to supply two-thirds of current global demand for 20 years.
There are oil experts who feel that to exploit the petro carbon potential of Nigeria fully, the country has to invest in the infrastructure heavily for bringing gas from the mines to the consuming centers. For achieving this, the country has to piggy ride with foreign investors, who have the financial muscle power to make such larger investments. Also, the country should have a back-up plan to export surplus gas to other consuming countries. This needs creating a network of pipeline connections, which will entail a huge cost.
