Nigeria emerges seventh global LNG exporter in 2022
By Seun Ibiyemi
Nigeria has emerged as the seventh global liquefied natural gas (LNG) exporter in 2022, according to data from the International Gas Union (IGU).
The World LNG report released by IGU on July 12 stated this fact.
In the list of the top 20 global LNG exporters for 2022, Australia ranked first, exporting 80.9 metric tonnes (MT) during the year.
The United States followed closely in second place, exporting 80.5 metric tonnes, while Qatar claimed the third spot with exports of 80.1 metric tonnes (MT).
Russia secured the fourth position, exporting 33 MT in 2022, and Malaysia ranked fifth, exporting 27.3 MT. Indonesia occupied sixth place with exports of 15.7 MT, while Nigeria stood in seventh place with exports of 14.7 MT.
Other countries on the list include Oman in eighth place with LNG exports of 11 MT, and Algeria in ninth place with 10.5 MT. Trinidad and Tobago was in tenth place with 8.8 MT, and Papua New Guinea was in eleventh place with 8.1 MT.
Egypt was in twelfth place with 7.3 MT, UAE in thirteenth place with 5.4 MT, and Brunei in fourteenth place with 4.7 MT. Equatorial Guinea emerged in fifteenth place with 3.4 MT, Angola in sixteenth place with 3.3 MT, and Peru in seventeenth place with 3.2 MT.
Meanwhile, Norway was in eighteenth place with 2.7 MT, and Cameroon in nineteenth place with 1 MT, while Mozambique was in twentieth place with 0.1 MT.
According to the IGU report, global LNG trade reached a new record of 401.5 metric tonnes (MT) in 2022, up from 6.8 per cent in 2021, connecting 20 exporting markets with 462 importing markets.
The 25.4 MT increase was driven by a surge in LNG demand in Europe to offset dropping pipeline flows from Russia.
Despite several unexpected disruptions in LNG supply, the annual growth rate of 6.8 per cent in LNG trade was higher than the 4.5 per cent seen in 2021.
The IGU report further stated that the top three exporters were together responsible for 60 per cent of global LNG output in 2022.
A part of the IGU report stated, “Of the 20 LNG exporting markets, six reduced exports last year. Large reductions in LNG exports were observed in Nigeria (-1.8 MT) due to low feedstock and force majeure being declared following extreme flooding.”
The report also highlighted the fact that LNG trade in 2022 was heavily impacted by the global energy crisis, mainly driven by a surge in LNG demand in Europe to offset lower flows of natural gas pipeline imports from Russia, coupled with unplanned disruptions in LNG supply.
