Nigeria LNG Ltd Wednesday said it was gradually losing global LNG market share due to a delay in the expansion of the six train Bonny LNG plant in the Niger Delta. The Bonny plant produces 22 million mt/year of LNG, but plans to build a seventh train and increase output to 30 million mt/year, initially from 2010, have failed to materialize. “NLNG used to be the 10th-largest supplier but it is gradually losing the market to international competitors who have continued to expand their businesses. It is therefore imperative that NLNG increases its production in order not to lose more market share,” the company’s general manager in charge of production, Chima Isilebo, said in a statement. NNPC holds a 49% interest in the Bonny plant alongside Shell (25.6%), Total (15%) and Eni (10.4%). The delay in building the seventh train has cost Nigeria $2.5 billion/year in potential revenue, as […]