Nigeria topped African exporters in Liquefied Natural Gas, (LNG), in 2021 with 17.9 million metric tons MMt, says a report published by leading information provider IHS Markit.

Algeria, followed closely with 12.3 MMt and Egypt with 6.9 MMt.

In 2021, the U.S. added 25 million metric tons of LNG capacity owing to an expansion in liquefaction capacity, coupled with average utilization of plants increasing to 98 per cent in the third quarter of last year.

Meanwhile, the report tipped U.S. and China to represent the top export and import markets, respectively, for Liquefied Natural Gas (LNG) in 2022.


For the U.S., the position represents a shift upward from being the third-largest LNG exporter in 2021 at 73.6 million metric tons (MMt), following Australia (83 MMt) and Qatar (81.3 MMt).

LNG development in the U.S. accelerated pre-pandemic due to the U.S. shale revolution and growing liquidity in LNG markets, including the commissioning of Venture Global’s 10 million tons per annum (MTPA) Calcasieu Pass LNG project, Tellurian’s 27.6 MTPA Driftwood LNG project and Cheniere’s Sabine Pass Train 6 facility.

Investments in gas and LNG capacity over the past 24 months were made under the assumption that oversupply in the LNG market would dissipate after 2021, and that demand growth would exceed incremental supply thereafter. While short- and medium-term demand for LNG exports faced uncertainty in the early part of the pandemic, industry experts remained confident that demand would recover to pre-pandemic levels in 2021 and beyond in mature markets, and even expand in emerging markets due to a low-price environment that would boost consumption.

oz4real83:
How much LNG did Nigeria import in the same year? . Most of the LNG in our domestic market was imported, it makes absolutely no sense to export and then reimport expensively for the domestic market. Our naira will continue a free fall if this govt continue in this meaningless trend. That is why the gas available in the domestic market has been so expensive.

oz4real83:
How much LNG did Nigeria import in the same year? . Most of the LNG in our domestic market was imported, it makes absolutely no sense to export and then reimport expensively for the domestic market. Our naira will continue a free fall if this govt continue in this meaningless trend. That is why the gas available in the domestic market has been so expensive.

manuelfolarin:

Why e be say every good news about naija dey always vex una?

manuelfolarin:

Why e be say every good news about naija dey always vex una?

aribisala0:
There is no LNG in our domestic market

Not a drop

Stop talking nonsense

Do you even know what LNG is?

oz4real83:
you are a real dullard.

oz4real83:
you are a real dullard.

aribisala0:
Well I am sure you can deal with facts if you are not so insecure to go around abusing people

I say this with 100% confidence

NOT a molecule of LNG enters the Nigeran market

Why abuse people because they challenge your views even if your are right BUT in this case YOU ARE WRONG

Nigeria IS NOT CAPABLE OF USING LNG in our domestic market

oz4real83:
you are a real dullard for calling my opinion 'nonsense" instead of expressing yours without resorting to insults.

oz4real83:
this is supposed to be an educative forum. Why will youe say I'm talking nonsense instead of expressing your opinion without insults?

oz4real83:
you call this good news? Do u know how much is exchange rate today? Do u know that the naira is on a free fall? Do you know that your trade balance contributes to the value of your currency? Is it a crime if we source gas locally for domestic use? Why should we continue importing what we are exporting?

backtalkG:
Gas surplus everywhere but still very expensive for the common man

aribisala0:
Well I am sure you can deal with facts if you are not so insecure to go around abusing people

I say this with 100% confidence

NOT a molecule of LNG enters the Nigeran market

Why abuse people because they challenge your views even if your are right BUT in this case YOU ARE WRONG

Nigeria IS NOT CAPABLE OF USING LNG in our domestic market