1 Nigeria LNG Limited, Bonny Island, Nigeria.
2 Independent Researcher, Lagos, Nigeria.
3 Chevron Nigeria Limited, Nigeria.
4 Independent Researcher, Canada.
5 Nigeria LNG Ltd, Bonny Island, Rivers State, Nigeria.
6 Department of Information Management, Ahmadu Bello University, Zaria, Nigeria.
Review Article
World Journal of Advanced Research and Reviews, 2024, 21(02), 382-390
Article DOI: 10.30574/wjarr.2024.21.2.0464
Received on 29 December 2023; revised on 03 February 2024; accepted on 06 February 2024
The economic viability of Liquefied Natural Gas (LNG) projects in African nations stands as a pivotal subject in the global energy landscape. This Review encapsulates a comprehensive review, shedding light on the multifaceted aspects that determine the success and sustainability of LNG initiatives across the African continent. The analysis encompasses key elements such as investment frameworks, regulatory environments, and socio-economic considerations, providing a nuanced understanding of the economic dynamics shaping LNG projects. Examining case studies and regional variations, the review delves into the challenges and opportunities that characterize LNG ventures in Africa. The study identifies the critical factors influencing economic viability, including infrastructure development, market dynamics, and governmental policies. It explores the impact of global energy trends on the African LNG market and scrutinizes the role of international collaborations in fostering economic success. Additionally, the review assesses the potential socio-economic benefits, job creation, and local community engagement stemming from LNG projects, adding a socio-economic dimension to the economic evaluation. Furthermore, the Review emphasizes the need for adaptive strategies that acknowledge the unique challenges faced by African nations, from political stability concerns to the varying levels of technological infrastructure. The economic viability of LNG projects is inherently linked to the alignment of national goals, industry interests, and environmental sustainability. In summary, this Review provides a succinct overview of the comprehensive review on the economic viability of LNG projects in African nations. It sets the stage for an in-depth exploration of the economic intricacies, offering valuable insights for policymakers, industry stakeholders, and researchers vested in the sustainable development of LNG projects across the African continent.
Economic; Viability; LNG Project; Policies; Investment
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Cosmas Dominic Daudu, Chinelo Emilia Okoli, Adedayo Adefemi, Olushola Babatunde Ayorinde, Oladipo Olugbenga Adekoya and Andrew Ifesinachi Daraojimba. Reviewing the economic viability of LNG projects in African Nations. World Journal of Advanced Research and Reviews, 2024, 21(2), 382-390. Article DOI: https://doi.org/10.30574/wjarr.2024.21.2.0464