The European Union is looking to Nigeria as an alternative to supplement its gas needs following Russia’s gas supply restrictions.
According to Matthew Baldwin, deputy director-general of the Department of Energy of the European Commission, “Europe is in a tight place about gas following the Russian invasion of Ukraine and volatility in our gas market, with the possibility of maybe cutting off supply completely.”
When Mr. Baldwin visited Abuja, he informed the media that the EU wanted to import more liquefied natural gas (LNG) from Nigeria than it now does.
According to him, Nigeria presently provides 14% of the gas that the EU imports and 60% of all LNG shipments from Nigeria are sent to Europe.
We intend to increase the 14% percent of total LNG imports from Nigeria that we presently import, he said.
According to Mr. Baldwin, the EU is eager to realize the exceptional potential of the gas partnership between Nigeria and it.
Earlier this week, the EU unveiled a strategy to cut gas usage by 15%, encouraging EU member states to do so.
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Gas is a crucial transition fuel that the European Union will need in its pipelines until 2045 and beyond. Mr. Baldwin stated that there are technological ways in which we may cooperate with you to enhance the cleanliness of that gas.
He continued, “But at the moment, the capacity, the utilization rate of Nigeria LNG is very low.” The EU wants to increase its short-term supply of Nigeria’s LNG.
According to him, the commission would be looking at ways to collaborate with the Nigerian National Petroleum Company Limited this week.
Mr. Baldwin stated that his visit to Nigeria was a fact-finding mission and that the EU will assist Nigeria in carrying out its ambitious energy transition plan. In August, the two parties will get together once more to talk more.
He met with the Minister of Power, the Minister of State for Petroleum, and the Minister of Finance while in Nigeria. Mr. Baldwin went to the Nigeria LNG as well.