May 15, 2018

Vitol targets Nigeria, others for gas and LNG investments

Vitol’s head of gas and power investments said on Thursday that its future growth will increasingly be driven by gas and liquefied natural gas (LNG), especially in emerging markets, Reuters reports.

Steven Brann said that LNG and gas, coupled with related asset acquisitions, will offer the best growth opportunities for Vitol as the world moves towards cleaner-burning fuels and oil demand peaks in the next decade. “Africa is important and LNG in and around Africa is an important part of our growth strategy,” he said.

Brann added that Vitol had been in talks with producers in Nigeria to monetise flared natural gas while also looking to help industrial companies to switch fuel inputs, converting from diesel to trucked LNG or LPG. “We already distribute LPG by truck across Nigeria,” Brann said