Five European Union ambassadors on Monday said Europe was interested in increasing the supply of Nigeria’s liquefied natural gas, or LNG, to the continent.
The EU ambassador in Nigeria, Samuela Isopi, who spoke on behalf of the group during a courtesy visit to the management of the Nigerian National Petroleum Company Ltd., said the EU seeks to strengthen its partnership with Nigeria in the energy sector.
He said as a result of the current geopolitical situation in Europe, the continent was interested in strengthening its cooperation with Nigeria particularly in the area of possible increase in the supplies of LNG, according to a statement from the NNPC company.
“Nigeria is the fourth largest gas supplier to Europe. At least 40% of the Nigerian LNG is currently exported to Europe. We are not only major clients for Nigeria, we are also major partners in the oil and gas sector because some of the companies that are working with you are from Europe. So, we share the same interest and same objectives,” Mr. Isopi said.
Mele Kyari, NNPC’s chief executive officer, assured the European delegation that the company would continue to deepen its historical relationship with EU companies in Nigeria in order to add more value to its business, particularly toward increasing the gas supply to the global market and enhancing domestic gas utilization.
The EU, which gets a substantial percentage of its oil and gas from Russia, is seeking alternative sources of energy after Russia invaded Ukraine. Several EU states, the U.S. and some Asian countries have placed economic sanctions on Russia in retaliation.
Nigeria is currently working to grow its gas reserves from 206 trillion cubic feet to 600 tcf, Timipre Sylva, the country’s minister of state for petroleum, was quoted as saying in December by the independent Guardian newspaper based in Lagos.
Mr. Sylva said at the 23rd World Petroleum Congress in Houston that the increase would position Nigeria among the countries with the highest gas reserves in the world.
Source: Dow Jones