Nigeria incurring huge losses over stalled $30bn LNG projects
Nigeria still suffers from the effects of the US shale revolution. That’s hard to understand as this has been underway for quite a number of years now. But Nigeria is an Atlantic producer and there is a lot of competition there. LNG Producers are expected to work the vanilla Asian markets. That’s hard to do from the Atlantic. Nigeria would do good to build solid relationships with Europe. This won’t pay the price Asia drops, but it will get your project into the dry. Hellas, common sense is not yet a searched for commodity.
More than two years after the Nigerian National Petroleum Corporation reiterated its commitment to two Liquefied Natural Gas projects in the country, there is still uncertainty over whether the multibillion-dollar projects will come on stream.
