Browsing: Liquefied Natural Gas (LNG)

Offshore gas mining in Nigeria

Nigeria’s Bold Offshore Gas Mining Plan to Cost $5b as It Eyes Supplies to Europe

Industry and Trade
  • Shell also ventured into offshore gas mining in Nigeria last month
  • In conjunction with gas monetization efforts, Nigeria is leading major pipeline projects for the offshore gas mining project 
  • Nigeria has estimated 203 trillion cubic feet of natural gas

Nigeria is ready to solidify its position in the global oil market by leveraging its vast natural gas reserves through an offshore gas mining facility. With an estimated 203 trillion cubic feet of natural gas, the country strategically positions itself as a leading exporter of Liquefied Natural Gdurex intense vibrations ring air max 270 women inflatable kayak durex intense vibrations ring black friday wig sale college football jerseys nike air jordan 1 elevate low fsu football jersey deuce vaughn jersey yeezy shoes under 1000 latex hood custom stitched nfl jersey borsa prima classe castelli gabba durex intense vibrations ring as (LNG) to global markets.

The monumental $5-billion Nigeria LNG Train …

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Natural gas breaths new life to Africa’s economy

Industry and Trade

Africa’s economy thrives mainly from agriculture, trade and human resource. For years these three have dominated Africa’s market, but in recent years researchers have found that Africa’s abundant natural resource also includes Natural gas. This discovery later revolutionized Africa’s economy as a select few countries have significantly profited from its exportation and use.

Here is an outlook demonstrating how Africa’s natural gas production is an energy solution that can propel its entire economy to new heights.

Understanding Natural gas and its uses

Before further elaborating on how Africa’s natural gas resources are the envy of other continents, we must first understand the context behind this energy solution and why it is so important.

What is Natural Gas

Natural gas is a mixture of gas which is potent in hydrocarbon. These gases(methane, nitrogen, carbon dioxide, etc.) are naturally found in the air. However, they are mainly far less potent to process.

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Exim Bank US provides $4.7bn to Mozambique LNG

Exim Bank US provides $4.7b to Mozambique LNG

Investing

Export-Import (EXIM) bank United States said it is in the process of providing  $4.7 billion in financing the liquefied natural gas (LNG) project in Mozambique.

Exim Bank United States fund is the largest commitment given by any lender towards the priciest hydrocarbon development in Africa.

The 13 Million Tonnes Per Annum LNG project will cost $20 billion to develop but Total which is in charge of the project is borrowing $14 billion from 28 financiers.

EXIM bank is one of eight Export Credit Agencies financing the project include Japan Bank for International Corporation (JBIC), Nippon Export and Investment Insurance (NEXI), UK Export Finance (UKEF), Servizi Assicurativi del Commercio Estero of Italy (SACE), Export Credit Insurance Corporation of South Africa (ECIC), Atradius Dutch State Business (Atradius) and Export-Import Bank of Thailand (EXIM Thailand).

There are 19 commercial banks financing the project in which Standard Bank of South Africa, is leading with …