African Countries To Supply 30% Of World’s LNG by 2010

Wednesday, March 01, 2006
Nigeria, Libya and other African countries will supply 30 per cent of the world’s of Liquefied Natural Gas (LNG) by 2010, as against the present level of 12 percent, which the continent’s gas producers have been supplying. According to Nigeria Daily Independent, Africa had 50 million tones per year of LNG capacity at the end of 2005, with most of it in Algeria and Nigeria. African finds totaled nearly 25 percent of world liquids reserves discovered between 2000 and 2004 and 12 percent of world gas reserves discovered in the same period excluding the United States of American onshore and Canada. Companies in the region discovered 300 billion barrels oil equivalent. Two thirds of it liquids, in Africa, were discovered in 2004. Of that, 85 percent has been found in 10 basins, and 22 per ent is in Libya's Sirte basin alone. Africa's remaining liquids resources at the end of 2004 is estimated at 105 billion barrels. A substantial part of Africa's oil production growth would come from new giant fields in Nigeria, Angola, and Algeria. Giant deepwater discoveries off Angola and Nigeria are expected to add more than 2.2 million barrels per day. Indigenous African oil companies, which are increasingly competing with international oil companies for access to hydrocarbon resources, hold 216 licenses in Africa, compared with 95 licenses 10 years ago. (Source: Nigeria Daily Independent)
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Woodside to Pick up Moroccan Acreage

Woodside advises that it has entered into a contract for an exclusive Reconnaissance Licence (RL) with the Office National des Hydrocarbures et des Mines, the

Strategy Can Maximize UKCS potential

Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm.

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

LNG

Getting Real on LNG Fuel

Plentiful supply, low prices and strict regulations on air pollution are fuelling a swift move towards using LNG as fuel for ship propulsion in the USA and Canada.

Interferry Welcomes IMO Decision on LNG Fuel Tank Placement

Interferry has welcomed a decision at last week’s IMO Maritime Safety Committee meeting (MSC94) setting out rules for the location of fuel tanks on LNG-powered ships,

HHI to Build FSRU for Höegh LNG

A new Floating Storage and Regasification Unit (FSRU) will be built by the Korean shipbuilding Company Hyundai Heavy Industries (HHI). This FSRU will be the fifth

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0996 sec (10 req/sec)