Abstract
Nigeria has an estimated 187 trillion cubic feet (Tcf) of proven gas reserves. Almost 50% of annual associated gas produced is flared or re-injected for enhanced recovery. Currently, the preferred option for exporting stranded gas is liquefied natural gas (LNG). However, the world LNG market is relatively small compared to middle distillates, and strongly driven by long-term and high risk contractual agreements. Gas-to liquids (GTL) is an emerging technology in gas exploitation with end products being useful in transportation, power generation and base chemical feedstock. The underlying objective is to build a business case for GTL as an alternative to LNG for Nigeria stranded gas reserves. Integrating GTL with commercial power generation improves the NPV of GTL projects by about 2-4% making this option clearly competitive with LNG. The analysis presents a robust and economic solution to gas exploitation in terms of technological and environmental factors scalable to supply and demand constraints.
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