This Day Live: Omotowa - LNG Market Remains Robust, Despite Shale Gas

Managing Director/CEO of Nigeria LNG Limited, Mr. Babs Omotowa recently spoke to journalists in Lagos on the huge potential of the global gas market. Ejiofor Alike was there. Excerpts:

You signed long term contracts of 20 to 25 years with buyers and now that the shale gas is in the market, your customers may want to terminate those contracts because they have seen cheaper source of gas. Are you not worried that shale gas is threatening LNG business?

During the 2014 Nigeria Oil and Gas conference, I spoke indeed about shale gas and even methane hydrates, which has significant challenges, and I think some of what I spoke about then has come to pass because we have seen the impact of shale gas and shale oil has indeed affected the price of crude oil to the level as we are seeing today. So, I do not think that anything has changed from that perspective; shale gas will be with us for sometime; it will affect prices.

Read the full article HERE.