27-05-08 The UK's Centrica and Nigeria's state of Akwa Ibom have signed a $ 12 bn deal to build a new liquefied natural gas plant.
Akwa Ibom Gov. Godwill Akpabio said the plant will be built on Tom Island in the southwest part of the state.

Last November, Centrica, Norway's StatoilHydro and Consolidated Contractors Company announced a Memorandum of Understanding to assess the feasibility of LNG projects in Nigeria.
Nigeria has the world's seventh-largest gas reserves at 180 tcf, but has been unable to develop its gas industry to anywhere near full potential because of a lack of funds and regulation. At present, Nigeria exports about 3 bn cfpd, flares about 2.5 bn cf due to lack of facilities to use it, and supplies only 0.5 bn cf to the domestic power sector.