By John Ikani
The European Union (EU) has openly pledged to ramp up its intake of liquefied natural gas (LNG) shipments from Nigeria in the near to mid-term.
Kadri Samson, the EU Commissioner for Energy in Nigeria, voiced this commitment during her recent tour of the NLNG Bonny Plant in Rivers State.
Samson lauded Nigeria Liquefied Natural Gas Limited (NLNG) as the primary LNG supplier on the continent and gave her assurance of the EU’s eagerness to receive larger LNG shipments from Nigeria.
She stated, “The EU is fast-tracking its energy transition, and we must bolster our connections with dependable LNG partners like Nigeria in the short-term. This action helps us bridge the gap left by former Russian imports as we progressively transition from fossil fuels.”
She went on to note that “Nigeria has proven to be a dependable partner, with 9.4 bcm of LNG exported to the EU in 2022. However, there is untapped potential – from now until 2027.”
In the meantime, Dr. Philip Mshelbila, the Managing Director of NLNG, underlined their commitment to harnessing the vast potential of natural gas.
This endeavor is not just about restoring Nigeria’s reputation as a significant energy player but also pushing the nation toward a cleaner, more sustainable future.
He stressed the significance of innovation and collaboration among various stakeholders, including government entities and European investors, to reshape the energy landscape of the future, create global gas supply opportunities, stimulate economic growth, generate jobs, and combat environmental challenges through gas usage.
Furthermore, it’s noteworthy that Nigeria secured the seventh position in the list of the top 20 global LNG exporters for 2022, delivering 14.7 metric tons of LNG, as reported by the International Gas Union (IGU) in its World LNG report.
Preceding Nigeria were Australia, the United States of America, Qatar, Russia, Malaysia, and Indonesia as the top six exporters.
In accordance with the October 2023 Global Gas report from the International Gas Union (IGU), Nigeria, Qatar, and Russia are predicted to emerge as the three dominant liquefied natural gas (LNG) suppliers to Europe, following the United States of America.
The report also sheds light on Europe’s proactive efforts to strengthen partnerships with select nations to meet its growing demand for LNG.
The report underscores the fact that Europe experienced a significant surge in LNG imports in 2022, increasing from 74 million tons in 2021 to 124 million tons, signifying a remarkable growth of nearly 68%.
In response to this surging demand, a consortium of major LNG exporters played a pivotal role, with the United States leading the charge by ramping up its LNG exports to Europe by over 30 million tons from 2021 to 2022.
This striking surge equates to a staggering 159% year-on-year increase in LNG exports.
Europe’s unwavering commitment to these partnerships underscores its determination to secure a stable supply of LNG, in line with its increasing appetite for this eco-friendly energy source.
