Germany Eyes Imports of Nigerian Natural Gas in Chancellor Scholz’s Visit
Germany is eyeing imports of natural gas from Nigeria in an effort to secure and diversify its energy supply.
The German Chancellor Olaf Scholz said this during his visit on Sunday after a meeting with President Bola Ahmed Tinubu in Abuja, Nigeria’s capital.
“This will also have an impact on the global gas price. If more states offered gas on the global market, prices would decrease.
“It is important to use the capacities where they are, and that we diversify production all over the globe,” Scholz added.
President Tinubu said that given Nigeria’s sizable resources, “we are ready to encourage investments in a gas pipeline.”
Today marked a significant step forward in Nigeria-Germany relations with the visit of Chancellor Olaf Scholz of Germany @Bundeskanzler reinforcing our shared commitment to mutual growth and prosperity.
During our bilateral discussions, we exchanged views on pressing global… pic.twitter.com/HEAScYEyAw
— Bola Ahmed Tinubu (@officialABAT) October 29, 2023
Germany — which switched off its last nuclear power plants this year and weaned off Russian pipeline gas during last year’s energy crisis — will need large volumes of LNG to run its power-hungry industry. So far, Europe’s economic powerhouse gets crude oil from Nigeria, but not gas.
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Scholz last year also visited Senegal, where he offered German help to open up gas fields off the coast. The West African country expects to deliver first quotas of the fuel in the second half of 2024.
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This week’s trip is Scholz’s third to Africa since taking office two years ago.
Nigeria, the continent’s largest economy, also wants to make business deals in the areas of raw materials with European partners.
Scholz will travel to Ghana on Monday.
