The European Union is strengthening relations with Nigeria as it seeks to diversify sources of its natural gas imports in an attempt to reduce reliance on Russian energy.
Nigeria is the fourth biggest liquified natural gas supplier to Europe. At least 40% of Nigeria's gas is currently exported to Europe.
The EU seeks to cut the use of Russian gas in response to Russia's invasion of Ukraine
It's diplomats visited the Nigeria's state-owned oil company on Monday for meetings on increasing cooperation in the energy sector.
“We are not only major clients for Nigeria, we are also major partners in the oil and gas sector because some of the companies that are working with you are from Europe. So we share the same interest and same objectives,” the EU Ambassador in Nigeria, Samuela Isopi said.
The Nigerian National Petroleum Corporation (NNPC) Chief Executive assured the European delegation that the company was keen on increasing gas supply to the global market.
Nigeria authorities say the country has a proven natural gas reserve of 209.5 trillion cubic feet (TCF) as at January 2022.
Revenue from oil and gas account for about two-thirds of Nigeria's funding.
Latest Stories
-
Paris 2024: Opening ceremony showcases grandiose celebration of French culture and diversity
2 hours -
How decline of Indian vultures led to 500,000 human deaths
3 hours -
Paris 2024: Ghana rocks ‘fabulous fugu’ at olympics opening ceremony
3 hours -
Trust Hospital faces financial strain with rising debt levels – Auditor-General’s report
4 hours -
Electrochem lease: Allocate portions of land to Songor people – Resident demand
4 hours -
82 widows receive financial aid from Chayil Foundation
4 hours -
The silent struggles: Female journalists grapple with Ghana’s high cost of living
4 hours -
BoG yet to make any payment to Service Ghana Auto Group
4 hours -
‘Crushed Young’: The Multimedia Group, JL Properties surprise accident victim’s family with fully-furnished apartment
5 hours -
Asante Kotoko needs structure that would outlive any administration – Opoku Nti
5 hours -
JoyNews exposé on Customs officials demanding bribes airs on July 29
6 hours -
JoyNews Impact Maker Awardee ships first consignment of honey from Kwahu Afram Plains
7 hours -
Joint committee under fire over report on salt mining lease granted Electrochem
7 hours -
Life Lounge with Edem Knight-Tay: Don’t be beaten the third time
7 hours -
Pro-NPP group launched to help ‘Break the 8’
8 hours