Nigeria Sells $1 Billion of Gas to Portugal, Official Says
By Obafemi Oredein
Special to Dow Jones Newswires
IBADAN, Nigeria--Nigeria has sold more than $1 billion of
natural gas to Portugal this year, the chief executive of the
Nigerian National Petroleum Company Ltd. said Friday.
"There are opportunities for Nigeria to grow this supply as the
NNPC has put up massive infrastructure to ensure gas is available
domestically and its supply into the international market is
increased," CEO Mele Kyari said on the official Facebook page of
Mr. Kyari, who is part of a Nigerian delegation to the second UN
Ocean Conference in Portugal, noted the energy partnership between
the two countries, adding Nigeria supplies 70% of energy imports to
Nigeria has proven gas reserves of 208.62 trillion cubic feet as
of Jan. 1. It is on track to increase the reserves volume to 220
tcf in less than 10 years and 250 tcf thereafter, the Nigerian
Upstream Petroleum Regulatory Commission said.
Gbenga Komolafe, NUPRC chief executive, said "the commission is
taking steps to develop and expand Nigeria's huge gas resources as
the conflict between Russia and Ukraine has disrupted global gas
Five European Union ambassadors in April visited the NNPC Ltd.
in Abuja and stressed Europe was interested in strengthening
cooperation with Nigeria, particularly for increased supplies of
liquefied natural gas.
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(END) Dow Jones Newswires
July 01, 2022 13:58 ET (17:58 GMT)
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