Nigeria chosen to host African Energy Bank to boost LNG and ambitious natural gas pipeline projects
Nigeria, the main oil, gas and LNG producer in sub-Saharan Africa, has been chosen to host the newly formed Africa Energy Bank (AEB) to boost investment in the Continent’s under-financed projects.
Nigerian LNG shareholder TotalEnergies holds talks in Abuja with nation’s President on more energy investments
TotalEnergies, the French major and one of four shareholders in the Nigerian liquefied natural gas company, has held talks with the Nigerian President on investing more in the West African nation.
Nigeria discovery
June 13 (LNGJ) - French major TotalEnergies has made a new oil and natural gas discovery offshore LNG producer Nigeria. “Located in shallow waters, 60 kilometres off the southeast coast of Nigeria, the Ntokon-1AX discovery well encountered 38 metres of net oil pay and 15 metres of net gas pay, while its side-track Ntokon-1G1 encountered 73 metres of net oil pay, in well-developed and excellent quality reservoirs,” said TotalEnergies.
“The Ntokon discovery opens a promising outlook for a new tie-back development,’’ said Nicolas Terraz, President of Exploration and Production at TotalEnergies. “After the start-up of production of the Ikike tie-back on OML99 in 2022, this new success in the area further demonstrates the potential of nearby exploration to create value within our low cost, low emission strategy,” added Terraz. TotalEnergies is the operator of the OML 102 block with 40 percent and Nigerian National Petroleum Company owns 60 percent.
Shell wins UK Supreme Court landmark ruling on Nigeria that rejects lapsed environmental claims
Shell, Europe’s largest oil and gas major and LNG market player, has won a landmark ruling from the Supreme Court of the United Kingdom against claims over on oil spill in Nigeria where Shell is still a shareholder in Nigerian oil and gas assets and the LNG plant.
Canadian-based Africa Oil signs two production sharing contracts in Equatorial Guinea with LNG potential
Africa Oil Corp., a Canadian energy company based in Vancouver and with producing and development assets in deep water Nigeria, has signed production-sharing contracts with LNG potential offshore Equatorial Guinea in West Africa.
LNG exporter Sonatrach boosts earnings as Algeria helps advance Trans-Saharan Gas Pipeline to Europe
Algerian energy company and LNG exporter Sonatrach is on track to make $50 billion record earnings this year and the North African nation also attended talks during the week on the 4,000-kilometre Trans-Saharan Gas Pipeline (TSGP) from Nigeria via Algeria to bring African natural gas to Europe.
LNG producer and holder of OPEC presidency Angola to give results on Sept 23 of latest bidding round
Angola, the southwest African LNG producer and holder for 2021 of the current rotating Presidency of the Organisation of Petroleum Exporting Countries (OPEC), has conducted a successful oil and gas bidding round and on September 23 will name concession winners.
UK move by PM Johnson to end fossil fuel export credits will hit poorest nations and future LNG projects
UK Prime Minister Boris Johnson has made his nation the first in the Group of 20 of the world’s most advanced economies to end all overseas oil and gas export credits, the downside of which is depriving poorer African and Asian nations of the fruits of fossil fuel revenues from development projects that many Western countries and powers like Russia and China have enjoyed to the full for many years.
