Petroleum Africa
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Monday, September 25, 2017
Russian gas giant, Gazprom, has expressed an interest in joint trading of LNG with Nigeria. The Russian firm is also interested in the development of underground gas storage facilities in the West African country.
The company’s interest was revealed by Russian Energy Minister Alexander Novak in an interview with Rossiya 24 TV after the meeting with the Minister of State, Petroleum Resources of Nigeria Emmanuel Ibe Kachikwu in Vienna.
“In the framework of bilateral cooperation, we discussed interaction of our company Gazprom, a subsidiary of Gazprom International, implementation of joint projects – interest of Gazprom in joint trading of liquefied natural gas, in joint development of underground gas storage facilities,” Novak said.
Nigeria may join the agreement on oil production cut between OPEC and non-OPEC nations, he went on to say. Russia, one of the world’s largest oil producers, is one of the non-OPEC producers participating in production cuts to prop up crude prices.
“Nigeria is ready to reduce production at the level of 1.8 milion bpd and join the agreement once it reaches the target. I think (Nigeria’s oil – TASS) minister will make it public himself,” he said.
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