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Nigeria to rescue EU with gas supply

26 June 2014, 21:31

Abuja - The Federal Government has said it would support the long term gas supply security for European Union (EU) countries as part of intervention to end the gas supply crisis facing Europe.

This is contained in a statement by Ohi Alegbe, Group General Manager, Group Public Affairs Division of the Nigerian National Petroleum Corporation (NNPC), in Abuja.

The statement explained that the Minister of Petroleum, Diezani Alison-Madueke, stated this during a meeting with the EU Energy Commissioner, Günther Oettinger, in Brussels, Belgium.

“The discussions focused on the role Nigeria could play in supporting the EU’s energy sector priorities, particularly the long-term security and diversification of gas supplies,” the statement said.

It quoted Alison-Madueke as saying that Nigeria was disposed to explore its gas potentials to the fullest.

She disclosed that gas production in the country had increased to more than eight billion cubic feet per day.

She added that Nigeria was the eighth largest gas producer in the world and the sixth largest gas supplier to Europe.

Alison-Madueke said that the country had over 180 trillion cubic feet of discovered gas reserves and about 600 cubic feet of undiscovered reserves.

She stated that significant investment was being planned to support expansion of the gas sector in the coming years.

According to her, while increasing domestic power generation is a priority for the government, export capacity will also rapidly grow, particularly as new Liquefied Natural Gas projects are being completed.

In his remark, the statement said, the EU commissioner stated that he recognised the long-term potential of Nigeria’s energy sector.

He promised to explore ways for greater collaboration between EU and Nigeria.


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