The European Union has reiterated its commitment to partner with Nigeria in the energy sector.
The Deputy Director-General (Energy), European Commission, Mr. Matthew Baldwin, who is on a visit to Nigeria, stated this in Abuja while briefing members of the media on the outcomes of his visit and other issues around the EU’s partnership with Nigeria in the oil and gas sector.
Mr. Baldwin said due to the ongoing Russia-Ukraine war, Europe is looking for other sources of gas supplies.
According to Mr. Baldwin, “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.”
“Following gas cuts by Russia, the European Union is looking to Nigeria as an alternative to augment its gas needs.”
Mr. Baldwin said EU is looking to increase Liquefied Natural Gas (LNG) imports from Nigeria above the current levels.
“We want to expand what is currently at 14 per cent share of total LNG import from Nigeria, we want that to go up,” he said.
Mr. Baldwin said that the gas relationship between Nigeria and the EU comes with extraordinary potentials with the latter determined to deliver on them.
The EU earlier this week launched a gas demand reduction plan, which encourages EU member states to reduce demand by 15 per cent.
“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,” according to Mr. Baldwin.
He added that the EU wants to expand their short term deliveries from Nigeria’s LNG, “but at the moment, the capacity, the utilisation rate of Nigeria LNG is too low,” he said.
Mr. Baldwin said the focus for this week is to see if the commission could look at ways of working with the Nigerian National Petroleum Company Limited.
He disclosed that his mission to Nigeria is one of fact finding, adding that the EU will help Nigeria deliver on its ambitious energy transition plan.
