European Union Plans to Increase Gas Imports from Nigeria

Power & Energy

The European Union is looking to purchase additional gas from Nigeria to replace gas from Russia in the wake of Russia’s invasion of Ukraine, citing Matthew Baldwin, deputy director general of the European Commission’s energy department.

Matthew Baldwin said the European Union currently sources about 14 percent of its total liquefied natural gas (LNG) from Nigeria, and this capacity can be more than doubled. At meetings held with officials from Nigeria, he had been told that, the African oil-producing country had been witnessing improved security in the Niger Delta.

The oil and gas production capacity of Nigeria is being throttled by pipeline theft and vandalism. As a result, the LNG terminal of Nigeria was located at Bonny Island, in the Niger Delta, and is currently operated at 60 percent capacity.

Nigeria is also planning to re-open the Trans Niger pipeline after August 2022, and once reopened, the pipeline is also expected to enable additional gas exports to Europe. Matthew Baldwin said, if they can get up to over 80 percent, and at that point, there might be additional LNG that could possibly be available for spot cargoes to come to Europe.

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The European Union said that with a view to avoiding any potential negative consequences for food and energy security around the world, the European Union has decided to extend the exemption from the prohibition to engage in transactions with certain entities for agricultural products and the transport of oil to third countries.

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