Igho Sanomi says Taleveras resolute to pioneer African participation in LNG trades
As global markets consolidate recovery from the Covid-19 pandemic, LNG markets globally are tightening, with demand growth led by anticipated surge in Asian and Latin America demand.
According to key Industry participants at the recent Gastech summit held in Dubai, it was agreed that the longer-term outlook is robust, driven particularly by markets in Asia as Gas provides about one-quarter of the world’s energy supply and continues to play a critical role in the global energy system.
Speaking on the sidelines of Gastech 2021, Taleveras Global Head of Gas Igho Sanomi, stated that: “There is hardly any other energy source that provides such broad wins, being that gas is used for heating, cooling and cooking in our everyday lives. It energises heavy industries, contributes to key economies and keeps emissions at very impressive minimal levels. At Taleveras over the last 5 years, we have taken a long term view on the future of Gas and pursued our business plan aggressively. This greatly propelled our pursuit and development of a strong LNG portfolio at a time when most market participants had little belief in the future of LNG. In essence, we called the LNG market correctly and still continue to keep a long term view. It has been a challenging Journey so far, primarily due to extreme levels of market volatility, coupled with disruption and supply challenges in Nigeria, but overall we remain firm, resolute and optimistic in our strategy to pioneer the involvement of Nigerian and African owned establishments in global LNG trades.”
Taleveras has joined a growing list of global trading firms increasing their presence in the liquefied natural gas market, raising its delivery volumes by almost 30 per cent year on year.
Taleveras said it is still looking to cement its role as Africa’s leading independent trader of Liquefied Natural Gas, the fastest growing fossil fuel. Taleveras said it plans to increase and expand its supply sources of LNG in other to maintain a vibrant portfolio to super such demand growth.
Global demand for LNG has witnessed a significant jump in recent times. Taleveras believes LNG trade demand will grow at an average of 3.4% a year between 2019 and 2040. The company however expects LNG demand from Asia – especially China, to contract from the year 2036.
“As the world continues to deal with the severe impacts of market demand and the impact of Covid- 19, the fundamentals are supported by a growing population and energy demand, LNG will continue to remain a high growth industry based on a growing economy worldwide,” a Taleveras senior trader on LNG had said during a presentation.
To many industry watchers and analysts, Taleveras, which has enjoyed success since its incorporation in the late nineties, has had to navigate innumerable challenges in the ever-volatile Oil and Gas industry. Today Taleveras is increasingly gaining a respected position as a resilient company that keeps thriving on in the Gas Markets.
Taleveras, one of Africa’s leading integrated energy conglomerates, was founded in the late nineties. The company operates and invests in the upstream, midstream, downstream, and power sector of the energy industry.