Nigeria eyes European gas market

Nigeria says it has 'abundant' reserves for Europe.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   June 9, 2014 at 10:07 AM
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ABUJA, Nigeria, June 9 (UPI) -- The top executive at a state-owned energy company in Nigeria said the European market is a good one for its abundant natural gas reserves.

Members of the European Union are looking for new sources of natural gas in an effort to add diversity to an energy market dominated by Russia.

Andrew Yakubu, chief executive of the Nigerian National Petroleum Corp., said Europe could be a good customer for the estimated 187 trillion cubic feet of natural gas that's been largely untouched in Nigeria.

"Europe is a good market for gas," he was quoted by the Platts energy news website as saying Sunday. "We are working on independently marketing our abundant gas resources to Europe."

In May, state-led Nigeria LNG Ltd., said it was sending 180 Nigerians to South Korea to learn how to build vessels used in the liquefied natural gas sector. LNG offers more transport variety than conventional pipeline deliveries.

Last year, Nigeria ordered six vessels to advance national efforts to build up its LNG capacity.

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