When oil was discovered in Nigeria in the late 50’s, the nation woke up to a huge source of income. Suddenly, the country became a major oil producing country in Africa, ranking 7th in the world. But this blessing came with a major challenge, as Nigeria also acquired the reputation of being one of the worst gas-flaring nations in the world.
The solution was Nigeria LNG Limited (NLNG), currently Nigeria’s sole exporter of Liquefied Natural Gas. The project was not only to drastically reduce gas flaring, but also earn valuable foreign exchange revenue for Nigeria, and diversify the nation’s revenue base.
From a two-train plant, Nigeria LNG Limited rapidly grew into an impressive six-train operation, making it one of the fastest growing LNG projects in the world, and the single largest industrial complex in Sub-Saharan Africa. The combined yearly output of the six trains currently amounts to 22 million tonnes of LNG - about seven per cent of the world’s Liquefied Natural Gas supply plus 5 million tonnes per annum of NGLs, that is, Condensate and Liquefied Petroleum Gas, also known as cooking gas.
A true success story, Nigeria LNG has delivered to the nation dividends in excess of $20 billion, and currently stands tall as the highest tax-payer not just in Nigeria, but Sub-Saharan Africa, contributing some 4% to Nigeria’s gross domestic product (GDP).
Clearly, Nigeria LNG’s enhanced conversion of erstwhile wasted associated gas along with non-associated gas into valuable export is certainly one sustainable way that the nation is delivering on its aspiration to provide a truly better life for the millions of Nigerians, bearing out the company’s vision to be a global company, helping to build a better Nigeria.
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