By Gloria Ikibah
The European Union is looking to Nigeria as an alternative to meet its gas needs, and this is as a result of the gas cuts by Russia.
The has brought the Deputy Director-General of the European Commission’s Department of Energy, Matthew Baldwin, for a visit to Nigeria as he disclosed that the EU is looking to increase Liquified Natural Gas (LNG) imports from Nigeria above the current levels.
According to him, Nigeria currently supplies 14 per cent of the EU’s gas imports, while 60 per cent of the entire shipments of LNG from Nigeria goes to Europe.
Addressing newsmen on Friday in Abuja, the nation’s capital Baldwin who reiterated EU’s commitment to partner with Nigeria in the energy sector said: “Europe is in a tight spot in relation to gas following the Russian invasion of Ukraine and instability in our gas market, the threat perhaps to cut off supply altogether.”
Baldwin said due to the ongoing Russia Ukraine war Europe is looking for other sources of gas supplies.
“Following gas cuts by Russia, the European Union is looking to Nigeria as an alternative to augment its gas needs.”
“We want to expand what is currently at 14 percent share of total LNG import from Nigeria, we want that to go up.
“If we can get up to beyond 80%, at that point, there might be additional LNG that could be available for spot cargoes to come to Europe.
“They (Nigerian officials) said to us, ‘Come and talk to us again at the end of August because we think we can deliver real progress on this,” Baldwin said.
He affirmed that the gas relationship between Nigeria and the EU comes with extraordinary potential with the latter determined to deliver on them.
Naijablitznews.com reports that the ‘Block’ recently launched a gas demand reduction plan, which encourages EU member states to reduce demand by 15 percent.
“Gas is a vital transition fuel that we will need in the European Union in our pipes all the way through 2045 and beyond… there are ways we could work with you to improve the cleanliness of that gas through technologies”, he stated.
Baldwin also said that the EU wants to expand their short-term deliveries from Nigeria LNG but at the moment, the capacity, the utilization rate of Nigeria LNG is too low.
Baldwin explained that he was on a fact finding mission to Nigeria, to see if the commission could look at ways of working with the Nigerian National Petroleum Company Limited; he added that the EU will help Nigeria deliver on its ambitious energy transition plan
Naijablitznews.com recalled that as a result of the ongoing Russia-Ukraine war, the European Union is engaging new partners around the world to meet its gas needs.
The war has led to high prices of oil and gas in the European Union which has hampered sustainable deliveries of energy to the bloc.
The EU is heavily dependent on Russia for its oil and gas and two-fifths of its gas supply came from Russia as at 2021.
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