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Posted by toluwalopesong
 - Jan 22, 2025, 11:26 PM
Portugal Turns to Nigeria for Natural Gas Supply

Portugal has increased its reliance on Nigeria for natural gas supply as part of its strategy to diversify energy sources and reduce dependence on Russian gas. This development aligns with Nigeria's goal of boosting gas exports and strengthening its position as a key player in the global energy market.

The Portuguese government highlighted the importance of securing reliable and sustainable energy sources to ensure economic stability. Nigeria, with its vast natural gas reserves, has emerged as a strategic partner in meeting Portugal's energy needs.

Energy analysts noted that the partnership benefits both countries. For Nigeria, it creates an opportunity to expand its gas market and generate foreign exchange. For Portugal, it provides a stable supply of liquefied natural gas (LNG) to support its energy transition efforts and mitigate risks associated with over-reliance on a single source.

Reports indicate that Nigeria is committed to meeting Portugal's energy demands by ramping up production and ensuring efficient delivery. The Nigerian Liquefied Natural Gas (NLNG) company has been instrumental in facilitating this trade, leveraging its robust infrastructure and expertise in gas production.

The collaboration underscores the growing demand for Nigeria's natural gas resources in the global market. It also highlights the importance of strategic partnerships in addressing energy challenges and fostering economic growth.