Monday, September 8, 2025
24.1 C
Lagos

Nigeria May Lose LNG Market to Benin Republic

With a population of less than 12 million and a GDP of $10.35billion in 2018, Benin is often overshadowed by its massive neighbour, Nigeria.

Yet as African countries try to revitalize their energy sector, bring in private capital and develop gas-to-power, it is in West Africa and Benin that observers should look for positive developments.

With recent legislative reforms and a strong political will, the small West African nation is strengthening its place as the capital of the West African Power Pool (WAPP) and positioning itself as a big hub for gas and power in the sub-region.
On July 24, French super-major Total signed a Gas Supply Agreement and Host Government Agreement with Benin and its state utility, the Société Béninoise d’Energie Electrique (SBEE).

The agreement will see the development of a 0.5 mtpa Floating, Storage and Regasification Unit (FSRU), the first in West Africa. LNG supplies sourced from Total’s global portfolio are set to start in 2021 and last for 15 years.

spot_img
spot_img

Hot this week

Nigeria, Brazil Central Banks Deepen Economic, Financial Co-operation

Nigeria’s Central Bank Governor, Olayemi Cardoso, has held talks...

Ecobank Nigeria to Host Second Edition of Design & Build, Showcasing Premier Innovators in Design, Construction

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

Expert: Fintech, Financial Inclusion Critical for Sustainable Growth of Nigerian Economy

A renowned economist, Dr. Biodun Adedipe, the Chief Consultant/CEO,...

Sterling Bank Marks One Year of Africa’s Groundbreaking Core Banking System

Number one Best Workplace in Banking in Nigeria and...

Topics

If Rotimi Amaechi Will Be Nigeria’s President…

BY KENI AKINTOYE One of the greatest successes of any...

NCDMB to Sponsor New R&D Projects, as Triple Helix Nigeria Unveils Vision

L-R: Prof Eucharia Nwaichi, Chairman Centra Planning Committee, Triple...

NIA Chairman, Kunle Ahmed, Confirmed to Speak at IMT 4.0 Conference

Insurance Meets Tech (IMT), West Africa's leading platform for...

Glo Rolls Out 4G LTE Network in Nigeria

Next generation network, Globacom, has switched on Nigeria's first...

3 Congratulations to 3 Men of History

It’s a season of divine victories for Nigeria! A victorious season that began with peaceful conduct of presidential election on Saturday, March 28, 2015 and equally peaceful handover of political power to another political party at the centre. It was also a political milestone when the defeated incumbent president freely conceded defeat and congratulated his opponent-an exemplary conduct in our clime.

Freedonia: Global Demand for Fuel Additives to Surge by 2016

Global demand for fuel additives will increase 4.7%/year to...

Tinubu Inaugurates Presidential Economic Co-ordination Council, Rolls Out Measures to Strengthen Economy

President Bola Tinubu on Thursday inaugurated the Presidential Economic...

MTN, FIRS Tango over N330bn Fine Tax

Our attention has been drawn to media reports regarding...
spot_img

Related Articles

Popular Categories

spot_imgspot_img