Nigerian LNG exports under pressure
Infrastructure sabotage and maintenance, combined with weak LNG demand from Northeast Asia and Latin America, are weighing on Nigerian LNG exports Infrastructure sabotage and maintenance, combined with weak LNG demand from Northeast Asia and Latin America, are weighing on Nigerian LNG exports.
9 September 2016
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Oil and gas infrastructure in Nigeria remains susceptible to sabotage by groups such as the Niger Delta Avengers. (PA)
Directional impact on forecast:
Bullish on LNG prices
Nigerian LNG exports are feeling the pinch from militant attacks on infrastructure, which have also restricted the country’s exports and production of oil. The problem is being compounded by maintenance at the country’s LNG facilities and weak demand in regions such as Northeast Asia and Latin America.
Nigeria’s declining oil and LNG exports are dampening the country’s economic growth prospects because they account for more than 90% of its total export revenues. Nigeria’s GDP shrank by 2.1%...
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