EU discusses increase in LNG supply from Nigeria
European Commission vice president Margrethe Vestager discussed the prospect of increasing Nigerian LNG supplies to the EU during a meeting in Abuja with Nigeria's vice president Yemi Osinbajo on February 14, according to the latter's press office.
The two sides discussed digital technology, trade and investment, the press office said, with the EC subsequently announcing a €820mn ($930mn) investment package to help digitalise Nigeria's economy. According to the press office, the importance of the energy relationship between Nigeria and the EU was also 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."
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"A technical meeting on this will also be convened shortly," the office said.
Osinbajo also 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," he said. "It's some bit of relief."
Nigeria has an LNG export capacity of 22.5mn metric tons/year, but this is due to rise to 30mn mt/yr, once a seventh train at the NLNG complex comes online in 2023-24.