President Buhari’s plans to explore Nigeria’s potentials for gas development looks to have gotten a boost, as a visiting German trade delegation have expressed interest in buying gas from Nigeria.
The Minister of State for Petroleum, Dr Ibe Kachikwu, said on Thursday that the Federal Government would partner the German Government to ensure effective supply of Liquefied Natural Gas (LNG). Kachikwu made the announcement in Abuja at a meeting with a German Economic Delegation, led by the German Vice-Minister of Economic Affairs, Mr Uwe Beckmeyer.
Mr. Uwe Beckmeyer said Germany was interested in establishing a business relationship with Nigeria to increase the supply of LNG, especially to his country’s shipbuilding industry.
Beckmeyer, according to a statement from the NNPC, said Nigeria’s LNG would come in handy as the country and other European industrial powers were seeking to cut down drastically on carbon dioxide emissions arising from heavy industrial operations since LNG was far friendlier to the environment.
“We have a lot of interest in LNG and i think this is one special thing we should develop in the next few years. I think there is increasing demand in Europe, especially as we seek to reduce emissions. It is useful for both sides to develop this special relationship,” he said.
The Germans aren’t the first to show interest in Nigeria’s gas market, as an Arab billionaire had last month indicated interest in investing in critical sectors of the Nigerian economy including the gas sector.
President Muhammadu Buhari had last year at the 3rd summit of Gas Exporting Countries Forum (GECF) in Tehran, Iran stated that Nigeria was taking appropriate steps to turn its abundant gas resources into veritable catalyst for development as the nation’s gas potential might be in excess of 600 trillion cubic feet.