Nigeria's growing population is in need of wide-ranging solutions to the multidimensional poverty it faces. This IISD report outlines the risks that Nigeria faces in forging ahead with a dash for liquefied natural gas (LNG) to balance their need to grow the economy. It also examines possible external shocks and competition in the LNG export market space, which hinges on European LNG demand. Promised revenue may not be realized as an imminent threat of stranded assets looms ahead.
Authors
- Published in
- Canada
- Rights
- IISD, 2024
Table of Contents
- Table 1. Nigeria LNG projects in operation 11
- Table 2. LNG projects in planning 12
- Table 3. Capital expenditure estimate for LNG export terminals by country 18
- Figure 1. LNG projects operated by Total Energies 10
- Figure 2. The Nigeria–Niger–Algeria proposed pipeline 13
- Figure 3. Carbon emissions in the LNG supply chain 15
- Figure 4. Nigerian LNG terminal infrastructure for export 17
- Figure 5. Global LNG breakeven analysis 19
- Figure 6. Total global energy supply in net-zero emissions scenario 21
- 1.0 Introduction 9
- 2.0 LNG Projects 10
- 2.1 Projects in Development 11
- 2.2 New Gas Pipelines as Part of the LNG Infrastructure Expansion 13
- 3.0 Impacts of LNG Projects to Date 14
- 3.1 Social Impacts 14
- 3.2 Environmental Impacts 15
- 3.3 Economic Concerns 16
- 4.0 The Risks of Scaling Up LNG Production 19
- 4.1 Risk 1: Nigerian LNG exports may struggle to compete on the global market after 2030 19
- 4.2 Risk 2: Investing in LNG may not generate expected revenues 20
- 4.3 Risk 3: High likelihood that new LNG infrastructure may be stranded 21
- 5.0 Conclusions 23
- 6.0 Recommendations 24
- References 25
