Wed, Jul 24 2024 24 July, 2024

Nigerian LNG up for debate as NOG Energy Week 2024 approaches

Nigeria Oil & Gas (NOG) Energy Week 2024 opens in Abuja later this month, at a time when questions are being asked about Nigeria’s LNG sector.

Aerial landscape of Abuja, Nigeria, where NOG Energy Week is taking place (Photo: Adobe Stock/Terver)

Nigeria’s push to expand its liquefied natural gas (LNG) production is in the spotlight as NOG Energy Week 2024 approaches, which Gas Outlook will be reporting from later this month.

A recent report by the International Institute for Sustainable Development (IISD) said that Nigeria’s desire to expand LNG production could put the country in a precarious economic situation and prolong its dependency on fossil fuels.

The report also warned that this would leave the country with stranded assets as international demand for gas falls.

Amid global decarbonisation efforts, continued international demand for gas is far from guaranteed, and forecast to decline from 2030, according to the International Energy Agency.

Therefore, the report said Nigeria’s plans to ramp up LNG production despite uncertain markets and the risk of deepening its fossil fuel dependency could leave the country with unprofitable and abandoned assets and reduce the financing of more sustainable energy sources.

Gas Outlook will be following discussions on the development of Nigeria’s LNG sector at NOG Energy Week 2024, which takes place from June 30th to July 4th.

Gas Outlook Africa Correspondent Samuel Ajala will also be reporting on, among other topics, the path to energy transition in Nigeria, and the recent divestment of Shell in the country, which raised some important legal and environmental concerns.

Stay tuned for our news, analysis and live tweets from the conference.

(Writing by Sophie Davies)

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