Brussels, 26/06/2014 (Agence Europe) - With known gas reserves of over 5 trillion cubic metres, Nigeria is ready to respond to the EU's long-term gas needs, Nigeria's Minister for Oil Diezani Alison-Madueke told European Commissioner for Energy Günther Oettinger during a meeting in Brussels on 24 June, on the sidelines for the EU-OPEC dialogue meeting (see EUROPE 11107).
Their discussions focused on how Nigeria could contribute to the EU's long-term energy security and diversification of supply, reports news agency Platts. “The discussions focused on the role Nigeria can play in supporting the EU's energy sector priorities. The Federal Government [of Nigeria] restated its resolve to support the long-term gas supply security for the European Union countries as part of measures to expand the nation's gas market”, Alison-Madueke said.
Nigeria, which has known gas reserves of over 5 trillion cubic metres and possible reserves of up to 16 trillion cubic metres, is currently the eighth biggest producer of gas in the world and the sixth biggest gas supplier to Europe. Lagos is planning significant investment to increase its gas production and export capacity - particularly with the completion of new liquefied natural gas (LNG) projects, said Alison-Madueke.
Nigeria currently produces 0.2 billion cubic metres per day and exports around 22 million tonnes of gas produced at the Bonny LNG plant.
According to Alison-Madueke's press release, Oettinger recognised the long-term potential of the Nigerian energy sector and says he wants further discussions to assess ways of strengthening collaboration between the EU and Nigeria. (EH)