The Nigerian Liquefied Natural Gas (NLNG) has stated that it is targeting to increase its global supplies of LNG from the current seven per cent to 10 per cent when the Train7 is finally completed.
The company currently operates six trains which contributes seven per cent of global LNG supplies and 250 metric tonnes (MT) of Liquefied Petroleum Gas (LPG), otherwise called cooking gas to domestic market.
The Managing Director, NLNG Limited, Mr Babs Omotowa, disclosed this in Lagos at the weekend during the presentation of Facts & Figures on NLNG 2014 to journalists.
He argued that NLNG, as a company, grew into a six-train production plant with a nameplate capacity of 22MT per annum.
“The company took off in 1989 with Nigerian National Petroleum Corporation (NNPC) having 49 per cent stake, Shell Gas B.V. 25.6 per cent, Total LNG Limited 15 per cent and Eni International 10.4 per cent stake respectively,” he stated.
On the loss of United States of America (USA)’s market due to discoveries of shale gas in the country, he posited that the Asian countries had a bigger market than the lost U.S market.
“We are now exploring the Asian market like the Japan, India and China have the potentials to double the US market and they have become our favourite markets now,” he said.
Omotowa further disclosed that the NLNG currently contributed four per cent of Nigerian Gross Domestic Product (GDP), adding that this might change if the rebased-GDP was considered.
Copyright, Nigeria Tribune, 2014.