Europe Turns To Nigeria, Africa As Alternative Gas Suppliers – Report

Nigeria and Algeria are the biggest African liquified natural gas suppliers on the continent.

Nigeria topped African exporters in Liquefied Natural Gas, (LNG), in 2021 with 17.9 million metric tons MMt, says a report published by leading information provider IHS Markit.

Algeria, followed closely with 12.3 MMt and Egypt with 6.9 MMt.

Top 10 African Countries Sitting on the Most Natural Gas

    Nigeria – 206.53 Trillion Cubic Feet

    Algeria – 159.1 Trillion Cubic Feet

    Senegal – 120 Trillion Cubic Feet

    Mozambique – 100 Trillion Cubic Feet

    Egypt – 77.2 Trillion Cubic Feet

    Tanzania – 57.54 Trillion Cubic Feet

    Libya – 53.1 Trillion Cubic Feet

Since the conflict between Russia and Ukraine broke out in February, Europe has turned towards different African partners to reduce dependence on Russian energy.

Earlier on May 2, the EU Ambassador to Nigeria, Samuela Isopi, together with France, Italy, Portugal and Spain’s ambassador met with the management of the Nigerian National Petroleum Company (NNPC).

The European Union is courting its first African liquified natural gas supplier. EU Ambassador to Nigeria, Samuela Isopi, together with France, Italy, Portugal and Spain’s ambassadors visited Monday the headquarters of the NNPC and met with the company’s management. The visit came as Europe tries to reduce its reliance on Russian gas. After the United States and Qatar, Russia was in 2021, Europe’s third liquified natural gas supplier.

The European envoys to Nigeria therefore sought to strengthen their cooperation in the energy sector with Africa’s top economy.

According to a statement by the NNPC spokesperson, the group managing director assured the European delegation that the company would continue to deepen its relationship with EU companies in Nigeria. He added the company would work particularly towards increasing gas supply to the global market.

On the domestic front, NNPC through its subsidiary, Nigerian Gas Company (NGC), currently supplies gas for power generation, either as source of fuel or as feedstock to cement and fertilizer plants, glass, food and beverages, manufacturing industries and so on. More local industries are now aware of the advantages and benefits of using gas, hence the demand for gas is increasing. The Nigerian gas market is a profit oriented market awaiting potential investors.

Following the Russia-Ukraine crises that led to energy shortages in the West Nigeria as well as other potential Gas Producers in Africa are taking advantage of the opportunity and supply gap.