Nigeria Liquefied Natural Gas Company (NLNG) announced that it could unlock three times as much gas as the country’s proven reserves and create hundreds of thousands of jobs if it goes ahead with a proposed expansion plan, Reuters reported.
NLNG currently operates six trains, including liquefaction and purification facilities. According to Gulf oil and Gas, the company’s CEO, Tony Attah, stated that NLNG was ready to add another two trains, although he did not say whether a final decision had been taken.
The construction of Trains 7 and 8 would require a total investment of as much as $25b, Attah added.
Nigeria has the world’s ninth largest proven gas reserves, at 187tcf. NLNG’s CEO stated the company estimated “scope for reserves of 600 tcf” if the firm manages to expand. Furthermore, he affirmed the investment would generate 800,000 new jobs.
However, Attah also warned that Train 7 needed assurances around supply, since the six existing facilities were not full on an annual basis. “We need a billion dollars worth of investment upstream to keep trains 1 to 6 up,” he said.
NLNG, which has 23 liquefied natural gas (LNG) carriers, has generated $85b in 17 years with assets of more than $13b.