Business Day: Nigeria: Falling oil prices will not spur investment in gas unless …Experts

Falling oil price in the international market and the subsequent naira devaluation will not spur investment in the gas sector unless government responds with the right policy framework to drive it, analysts say.

While acknowledging that recent reforms in the sector such as licensing of more independent power projects (IPP) and the Gas Master Plan have increased potential demand for gas, the analysts urged government to move fast and resolve all the pending final investment decisions (FIDs) for all the liquefied natural gas (LNG) projects such as NLNG Train 7, Brass LNG, and OKLNG, among others.

They are of the opinion that the existing window of opportunities derivable from these projects in the global LNG market are closing fast, due to recent projects from East Africa, Australia and Qatar among others.
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