Nigeria, Libya, Others To Supply 30% Of World’s LNG

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.

EIA releases annual energy outlook 2006

In preparing projections for the AEO 2006, EIA evaluated a wide range of trends and issues that could have major implications for U.S. energy markets between now and 2030.

While focusing primarily on the reference case, lower and higher economic growth cases, and lower and higher energy price cases, the full AEO2006 report presents information on over thirty alternative cases. Examples include cases that examine the impact of greater and slower improvement in energy technologies (end-use, electric generation, renewable, exploration and production), cases with more rapid reductions in nuclear costs, cases with the more rapid or slower introduction of liquefied natural gas supplies, and cases that open the coastal plain of the Arctic National Wildlife Refuge to exploration and development. These cases provide the user of the AEO2006 with a better appreciation of the full range of uncertainty that surrounds long-term energy projections.

The full AEO2006 report is available at http://www.eia.doe.gov/oiaf/aeo/index.html

Energy Challenges

2006 represents a very challenging year for the international energy industry. Demand for natural gas is far-outstripping supply. LNG still remains as a viable or “bridge” solution to meet both short-term and long-term fuel and feedstock requirements for both wholesale and retail consumers. Policy & Regulatory framework must support commercial market mechanisms in order to ensure timely production, transportation and delivery of LNG to both developed and developing countries.