- EU seeks to partner with Nigeria’s oil and gas sectors.
- EU proposes that Nigeria deliver on its ambitious energy transition plan.
Mr Matthew Baldwin, Deputy Director-General (Energy), European Commission, who is on a visit to Nigeria, stated this in Abuja during a press briefing to inform the media about the outcomes of his visit and other issues concerning the EU’s partnership with Nigeria in the oil and gas sector.
According to Mr Baldwin, “Europe is in a tight spot about 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 stated that the EU wants to increase LNG imports from Nigeria above current levels. He said that Nigeria currently supplies 14% of the EU’s gas imports, while 60% of Nigeria’s total LNG shipments go to Europe. According to Mr Baldwin, the gas relationship between Nigeria and the EU has extraordinary potential, with the latter determined to deliver on it.
The EU launched a gas demand reduction plan, encouraging member states to reduce demand by 15%.
“Gas is a vital transition fuel that we will need in the European Union in our pipes 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 LNG, “but at the moment, the capacity, the utilisation rate of Nigeria LNG is too low.”
He disclosed that his mission to Nigeria is fact-finding, adding that the EU will help Nigeria deliver on its ambitious energy transition plan.