NLNG Raises Alarm Over Low Oil Prices; US, Australia Entry Into Market
The Nigeria Liquified Natural Gas company (NLNG) has warned in a communique that Nigeria’s tough economic realities caused by the continuous fall in global crude oil prices may worsen as the country’s other source of revenue, gas, is currently being threatened at the international market. The communique which summarized the third NLNG commercial division external […]
The Nigeria Liquified Natural Gas company (NLNG) has warned in a communique that Nigeria’s tough economic realities caused by the continuous fall in global crude oil prices may worsen as the country’s other source of revenue, gas, is currently being threatened at the international market.
The communique which summarized the third NLNG commercial division external stakeholders forum that was held in Abuja recently, noted that the fall in global oil prices would continue till the end of 2015, adding that it might worsen in the coming year.
It also expressed worry over the impact which the fall in crude prices was having on its revenue, stressing that the entry of the United States and Australia into the LNG market was also “a real cause for concern.” In addition it noted that although these challenges were being managed, the regulatory environment had shown increasing uncertainties.
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