Liquefied natural gas exports from Nigeria are expected to reach 16.2 million tonnes in 2023, according to a report by Independent Commodity Intelligence Services.
Nigerian LNG exports decreased in 2022, dropping 15% from 2021, according to ICIS.
“We forecast Nigerian exports will rise slightly to 16.2 million tonnes, but still below the 17.1 million tonnes exported in 2021,” the report said.
Additionally, it revealed that the expectation for Africa to resume LNG imports in 2022 did not materialize as a result of the skyrocketing price of LNG since the start of the conflict in Ukraine.
According to ICIS, it is unlikely that Senegal and Mozambique’s floating power plants will switch to gas-fired generation.
“Ghana, Senegal and Mozambique were all expected to receive their first cargoes to support power generation, but we no longer consider this viable in any noteworthy volume in the short-term.
“In Ghana, the Floating Storage and Regasification Unit that was briefly stationed at the Tema terminal – the Vasant – is now set to act as the new floating terminal for Turkey. The originally designated FSRU, the Torman II, remains in the Singapore shipyards,” it said.
The report also said that the government foresees the operation of the country’s gas liquefaction plants at total capacity throughout 2023.
It said, “After a weak second half of the year in 2022, Angola’s 5.4 mtpa Soyo plant finished the year strongly, and ICIS forecasts a slight recovery of around 0.4 million tonnes to around 3.8 million tonnes in 2023,” according to the report.
“Algeria experienced a weak 2022 in terms of LNG exports, seeing a drop of 1.5 million tonnes year-on-year. In 2023, however, ICIS expects a recovery of around 0.8 million to 11 million tonnes.”
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