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Nigeria and Germany Agree MoU on Gas-Export Partnership

LNG

A memorandum of understanding has been agreed between Nigeria’s Riverside LNG and Germany’s Johannes Schuetze Energy Import on a gas-export partnership.

  • Nigeria will supply 850k tons per annum of gas supplies with first deliveries expected to start in 2026. Supplies are later expected to rise to 1.2m tons/year.
  • The announcement comes after Nigerian president Bola Tinubu oversaw the signing in Berlin earlier this week.
  • “The German partners expressed confidence in investing in Nigeria’s gas sector,” a statement said.
  • Nigeria flares about 300 million cubic feet of natural gas daily due to inadequate processing facilities but this deal will help process about 50 million cubic feet per day of that gas according to Reuters.
  • A second MoU was signed between Union Bank of Nigeria and DWS Group on $500 million investment in renewable energy.
Energy BulletsCommodities
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