•Lists shrinking EU consumption, high cost of production as downsides
Emmanuel Addeh in Abuja
Although Nigeria is embarking on massive expansion of its Liquefied Natural Gas (LNG) footprint with many big ticket projects, like the Train-7, there are several risks to be surmounted by the country, a new report has said.
In the new study, the International Institute for Sustainable Development (IISD), an award-winning independent think tank, said it found that replacing oil revenues with LNG export revenues might seem like a plausible economic pathway, but that the approach was not without risks.
The report titled, “A Balancing Act: Considerations for the Expansion of Liquefied Natural Gas Projects in Nigeria,” and was written by Bathandwa Vazi and Richard Bridle.
One of the risks, the report stated, was that the Nigerian LNG exports might struggle to compete on the global market after 2030, with gas projects costing more to produce in Nigeria…
Source: Thisday Newspaper
