Nigeria Offers to Step in if Russian Gas to EU Is Interrupted

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Nigeria says it is prepared to help Europe meet its long-term needs for gas at a time when there is concern about the western flow of Russian gas through Ukraine.

The office of Diezani Alison-Madueke, Nigeria's oil minister, issued a statement on June 25 saying she discussed Nigeria's offer with EU Energy Commissioner Guenther Oettinger in Brussels during the EU-OPEC Energy Dialogue Ministerial Meeting.

The statement quoted Alison-Madueke as saying such a deal between her country and the EU would be mutually beneficial. Nigeria is interested not only in helping Europe meet its long-term supply needs, she said, but also "to expand [Nigeria's] gas market."

Alison-Madueke's statement said Nigeria has more than 180 trillion cubic feet (tcf) of known gas reserves, as well as an estimated, but as yet unproven, reserves of up to 600 tcf. Nigeria is currently the eighth-largest producer of gas in the world and the sixth largest supplier of gas to Europe.

To expand this market, she told Oettinger, Nigeria has been planning strong investment to increase its capacity to produce and export gas, especially once it completes several liquid natural gas (LNG) projects.

Nigeria's offer comes at a time when Europe's demand for gas is rising and as tensions grow between Russia and Ukraine. EU countries get one-third of their gas from Russia, and of that, one-half now flows through Ukraine.

The flow of Russian gas to Europe via Ukraine has twice been interrupted since 2006, and today Ukraine itself is receiving no Russian gas because of unpaid arrears, though the supply of Russian gas to Europe has not been interrupted.

For his part, Oettinger said he recognizes Nigeria's potential to be a valuable supplier of gas to Europe and welcomed further discussions on how to increase the EU's cooperation with the government in Abuja.

The two ministers' meeting followed Alison-Madueke's keynote address to the Brussels meeting. Speaking as alternate president of the OPEC Conference, she focused on what she called the strength of EU trade and energy relations with Nigeria, noting that her country supplies Europe with more than 30 percent of its oil and almost 20 percent of its gas.

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Read/Post Comments (6) | Recommend This Article (12)

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  • Report this Comment On June 28, 2014, at 12:19 PM, Morris2Author wrote:

    Nigeria is yet to solve her own domestic energy problems and yet is making such a huge promise. I would that the minister should concentrate on meeting domestic energy needs of our people before talking of such things.

  • Report this Comment On June 28, 2014, at 4:27 PM, quasimodo007 wrote:

    Oh yeah that would frost EVIL czar putin/SATAN when all of WEAK Europe and WAFFLING GB Buy Evil czar putin/SATAN Gas .

    But I doubt WEAK Europe and WaFFLING GB will do that for they FEAR EVIL czar putin/SATAN too much.

  • Report this Comment On June 28, 2014, at 4:43 PM, gskinner75006 wrote:

    Nigeria can't even find some fool making videos and that's taking and selling their children. The EU best look some place else.

  • Report this Comment On June 28, 2014, at 6:33 PM, marc123456 wrote:

    That's good deal,

    Russian should know there are giant like Nigeria to supply the world with oil and gas

    this move will put great fear in Russia Putin to restrict from invading Ukraine .

    Alison-maduke good negotiation and make sure my part of this deal is addressed to my bank account.

    I'm entitled to 5% of this deal for my ministry.

    I know you remember me right

  • Report this Comment On June 29, 2014, at 3:58 AM, r00tb13r wrote:

    This Nigerian prince was wise. Instead of an inheritance that nobody wants, he offers reserves of oil and gas, which coincidentally everybody wants.

  • Report this Comment On June 29, 2014, at 9:42 AM, ezechika wrote:

    Sometimes when two Elephants fight, the grass can flourish.Thanks to Mrs Alison for this brilliant move.However, I hope Vampire Putin will not descend on us since he has a Nuke and no body can challenge him militarily.

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