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HomeAfricaNigeria Calls for Investment in Deepwater Gas and Infrastructure Development

Nigeria Calls for Investment in Deepwater Gas and Infrastructure Development

Nigeria is focusing on monetizing its natural gas resources to become a leading LNG exporter. The $5-billion Nigeria LNG Train 7 expansion will increase processing capacity by 35%. This will allow Nigeria to export more gas to markets like Europe, where it exported 9.4 billion cubic meters of LNG in 2023. The country needs investment in deepwater gas projects and infrastructure to accelerate exports. The Invest in African Energy 2024 forum in Paris will showcase investment opportunities in deepwater exploration, gas monetization, and midstream infrastructure.

IOCs Double Down Offshore

Nigeria is seeking upstream investment, particularly in deep offshore. Shell plans to invest $1 billion to develop Nigeria’s gas supplies and extend the life of the Bonga FPSO vessel. TotalEnergies and Chevron are also scaling up investments in Nigeria’s deepwater space, creating opportunities for drilling contractors, service providers, and national companies.

Sufficient Gas Infrastructure Needed

Nigeria is using gas monetization to eliminate gas flaring and generate power. The country has awarded 48 flaring gas sites for commercialization to expand the domestic gas market and reduce upstream activities. Major pipeline projects, such as the Nigeria-Morocco and AKK pipelines, will also drive gas production and export opportunities.

Organized by Energy Capital&Power, IAE 2024 (https://apo-opa.co/3UMOOtQ) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com.

Distributed by APO Group on behalf of Energy Capital&Power.

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