Page 13 - DMEA Week 01

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was set to expand further. Nigerian President Muhammadu Buhari has instructed the group to build another five production trains, bringing the total number up to 12, he said.
Doing so will create 10,000 new jobs in Nigeria and generate an additional $20bn in net budget revenues, Kyari said. Moreover, it will highlight the country’s strong interest in the development of the gas industry, he added.
“It also signifies that there is renewed confi- dence [among] international investors, particu- larly our partners which we have known for a long time, to still agree to put money back into this country,” he was quoted as saying by Reuters.
Equity in NLNG is divided between NNPC (49%), Shell (25.6%), France’s Total (15%) and Eni (10.4%). The consortium has been turning out LNG since 1999. ™
Qatar signs LNG supply deal with Kuwait
QATAR
Kuwait is seeking sources of supply to meet its growing energy needs.
STATE-OWNED Qatar Petroleum (QP) has struck a deal to supply up to 3mn tonnes per year (tpy) of LNG to Kuwait over a period of 15 years. In a joint statement with Kuwait Petro- leum Corp. (KPC), QP said deliveries would begin to Kuwait’s port of al-Zour in 2022. Kuwait currently imports LNG via a floating storage and regasification unit (FSRU) at the port of Mina Al-Ahmadi.
The deal comes as Kuwait is seeking sources of supply to meet its growing energy needs, particularly for power generation. The country is already importing more gas to meet power demand, especially in the summer months when the use of air-conditioning systems leads to sharp increases in consumption. The coun- try is also focusing on ramping up domestic gas production as part of its growth strategy up to 2040, but there are concerns that this will not go far enough.
“Whilst KPC is working towards increasing local natural gas production, there remains a pressing need to secure imports of natural gas supplies,” Kuwaiti Oil Minister Khaled al-Fadhel
said in the statement. He also said the deal would help his country to meet its requirement for cleaner sources of energy, as well as contribut- ing to reducing emissions and improving local air quality.
“This agreement extends Qatar’s long-stand- ing LNG supply relationship with Kuwait well into the 2030s and highlights our commitment to meeting Kuwait’s LNG requirements,” Qatari Minister of State for Energy Affairs Saad Sherida al-Kaabi, who is also the president and CEO of QP, said. “We are confident that the exceptional reliability of our LNG supplies will provide KPC with the required flexibility and supply security to fuel the State of Kuwait’s impressive growth.”
It was reported this week that Australia had overtaken Qatar to become the world’s largest exporter of LNG in 2019. However, Qatar is intending to boost its output of LNG to 126mn tpy by 2027. Its operational capacity is currently around 77mn tpy. Even with the US’ LNG pro- duction capacity also growing, Qatar is predicted to regain the top spot globally by the end of the 2020s. ™
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