Nigeria, Libya and other African countries will supply 30% of the world’s of LNG by 2010, as against the present level of 12%, which the continent’s gas producers have been supplying.
The President of HIS Energy, Mr. Ron Mobed, who disclosed this recently, stated that Africa had 50 MMTPA of LNG capacity at the end of 2005, with most of it in Algeria and Nigeria.
Mobed noted: “Egypt opened a new train that will accommodate 3.6 MMTPA of LNG, while Equatorial Guinea and Angola have announced their first LNG projects.”
Aside from that, African finds, he said, totalled nearly 25% of world liquids reserves discovered between 2000 and 2004 and 12% 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% has been found in 10 basins, and 22% is in Libya's Sirte basin alone.
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