EU intend to increase the supply of Nigerian LNG to Europe

Abuja, February 16 - Neftegaz.RU. European Commission vice president Margrethe Vestager met Feb. 14 with Nigerian vice president Yemi Osinbajo.
The parties discussed trade, investments and the prospect of increasing Nigerian LNG supplies to the EU.
According to Osinbajo´s press office:

• The importance of the energy relationship between Nigeria and the EU was discussed
• while a consideration of all options for increased supply of LNG from Nigeria to the EU was agreed to, following a request from the EU
• A technical meeting on this will also be convened shortly

Nigeria is a key LNG supplier to Europe and in 2021 exports amounted to 12.63 Bcm, according to data from S&P Global Platts Analytics.
Osinbajo welcomed the EC's recent proposal to consider gas as a sustainable investment in its taxonomy:

• We are relieved to hear of the EU's support on gas as a transition fuel
• It's some bit of relief

Nigeria LNG Limited (NLNG) is considered one of the most important economic projects in the country.
Since it began operations in 1999 when it shipped its 1^st LNG cargo, NLNG has brought significant economic benefits to Nigeria.
The company has 16 long-term Sale and Purchase Agreements (SPAs) with 10 buyers and controls about 6 % of global LNG trade.

The country is expected to have 100 oil & gas projects commencing operations across the value chain between 2021 and 2025, accounting for 23% of the total project starts in Africa.