Nigeria Highlights Gas Potential at Invest in African Energy Forum in May
Nigeria will showcase its burgeoning gas sector at the forthcoming Invest in African Energy (IAE) Forum in Paris, where Minister Ekperikpe Ekpo will underscore investment prospects and outline ambitious production targets.
Key Highlights:
- Nigeria aims to ramp up gas production to 5.5 billion cubic feet per day by 2030.
- The nation possesses Africa’s largest proven gas reserves, with substantial untapped potential.
IAE 2024: An avenue for engaging global investors and fostering strategic partnerships.
- Ongoing initiatives and recent commitments reflect growing international interest.
- Nigeria’s Gas Strategy:
- Decade of Gas initiative: Introduced in 2021 to prioritize gas utilization for industrial and power needs.
- 2024 licensing round: Envisioned to catalyze investment in deepwater gas exploration.
- Continuing upstream investments: Noteworthy commitments from industry giants like Shell and Chevron.
- Maiden FLNG facility: Anticipated final investment decision in Q1 2024 for a project capable of processing 1.8 billion tons per annum.
Progress and Opportunities:
- Shell’s investment in a gas supply facility for the Dangote Fertilizer plant.
- Completion of the Ajaokuta-Kaduna-Kano pipeline slated for mid-2024.
- Momentum building for the Nigeria-Morocco pipeline project.
- Advancement in the construction of NLNG Train 7, targeting heightened LNG output.
The Dialogue
Minister Ekpo’s address at IAE 2024 on May 14-15 promises deeper insights and engagement with global investors.
- The forum offers a platform to learn about specific projects, interact with industry frontrunners, and explore collaborative ventures.
Nigeria’s steadfast commitment to gas sector development presents lucrative opportunities for international firms eyeing investment prospects in Africa’s energy landscape. Participation in IAE 2024 enables investors to gather crucial intelligence and forge impactful alliances with key stakeholders.
