Thursday, September 18, 2008

Nations vy for Nigerian gas

The EU is proposing to help the Nigerian government develop a trans-Saharan pipeline which would take gas from Nigeria through Niger and Algeria, direct to Europe.

But Russia also has realised Nigeria's importance too .A week before the EU offer, the Russian gas giant Gazprom signed a deal with the Nigerian government for gas exploration and transportation, and has clearly stated its interest in the proposed pipeline. Gazprom can offer huge investment in infrastructure as an inducement to do deals.

Europe is increasingly worried about its dependence on Russian gas, especially after Russia's action in Georgia increased its influence over European energy supply routes through the Caucasus.

Watch this space as Nigerian resources once more becomes the focal point for world capitalism competition .

Nigeria has the world's seventh largest gas reserves.

No comments: