Published on March 16, 2016
1. Cape VI 6th African Petroleum Congress and Exhibition, Abuja, 15th -17th March “Enabling Gas Projects in Africa - LNG” Babs Omotowa MD/CEO Nigeria LNG
2. $10,325.6 62 GW $42,732.6 177 GW $3,203.3 6.1 GW $12,509.5 35 GW $36,194.4 293 GW $3,198.7 29 GW Ethiopia $573.6 2.5 GW South Africa $1,721.6 45 GW World - Energy and GDP per Capita Higher energy Intensity level corresponds to higher GDP per capita GDP/Capita Power Generation NASA Africa total is 143 GW
3. Africa - Energy Crisis 75% of Africa in darkness (lowest GDP) … France alone produces equivalent of Africa’s total generation
4. Energy – Gas Fastest Growing Cheapest Fossil Fuel Abundant for centuries Cheaper and Efficient Security of supply Flexibility via Pipeline, LNG/NGLs. Power Industries - Petrochemical, LNG, GTL Cooking and heating Transport
5. SA 485 Shale - tcf Algeria 231 Libya 290 Africa has Gas Africa consumes ~50% of gas produced Gas projects can help reduce the power problem in Africa.
6. >1500km, LNG cheaper LNG is faster to put in place Pipeline prone to sabotage Limited environment issues Gas Transportation
7. Equatorial Guinea 22 mtpa 40.4 mtpa 30.15mtpa 5.2mtpa 12.2 mtpa2.3 mtpa 10 mtpa 20 mtpa 3.7 mtpa 4.4 mtpa Algeria Libya Egypt Angola Nigeria Mozambique Tanzania Current Capacity Planned Capacity Africa LNG Plants Africa Exported 36.6MT (70MT Capacity) in 2014 (15% of Global)
8. FDI key for project financing in Africa which runs into billions of dollars FDIs to Africa has ranged between 4 and 5% (i.e. ~$50billion) of total global investments Institutional & regulatory environs still a challenge Attracting investments
9. Case Study – Nigeria LNG Limited • $7billion in FDI from 1995 • $90bln revenue (so far) • $19bln Asset base (FDI) - 6 Trains, 23 Ships • 4th largest LNG plant in the world Critical Success Factors • Stability • Independence • Technical depth • Governance • Financial capacity
10. Time to invest – EPC cost EPC costs grew as oil price increased
11. Time to Invest – Raw materials Price of iron ore at T3 FID Price of iron ore now similar level as at T3 FID
12. Conclusion 12 Gas can play big role in development of Africa This requires huge investment and conducive environment NLNG is a successful model Now is the time to invest – The world will not wait for us
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