Post reply

Nigeria Gas Forum
► Forum
► Business Corner
► Gas (LPG/LNG/CNG) Business Section
► Post reply ( Re: Portugal to Increase LNG Imports from Nigeria and the US )

Feb 22, 2025, 11:19 PM

Post reply

Note: this post will not display until it has been approved by a moderator.

Name
Email
Subject
Message icon

[quote author=toluwalopesong link=msg=559951 date=1737664371]
[justify][b][size=5][font=Sans-serif]Portugal to Increase LNG Imports from Nigeria and the US, Reducing Reliance on Russia[/font][/size][/b][/justify]
[hr]

[justify][float=left max=45%][font=Comic Sans MS][size=3][img]https://tkcdn.tekedia.com/wp-content/uploads/2024/08/18075003/LNG-768x385.jpg[/img][/size][/font][/float]
[font=Comic Sans MS][size=3]Portugal has announced plans to expand its imports of liquefied natural gas (LNG) from Nigeria and the United States as part of a broader strategy to diversify its energy sources and reduce reliance on Russian gas. This move aligns with the European Union’s efforts to strengthen energy security following geopolitical tensions and disruptions in traditional supply chains.[/size][/font][/justify]

[justify][font=Comic Sans MS][size=3]The Portuguese government revealed that the decision was driven by the need to secure a stable and sustainable energy supply while supporting global climate goals. Nigeria, as one of the world’s leading LNG exporters, is expected to play a significant role in this diversification plan. The US, with its rapidly growing LNG production capacity, is also a key partner in Portugal’s energy strategy.[/size][/font][/justify]

[justify][font=Comic Sans MS][size=3]Portugal’s Minister of Environment and Climate Action, Duarte Cordeiro, stated, “Strengthening ties with reliable energy partners like Nigeria and the US is crucial for achieving our energy transition goals. This will not only ensure energy security but also promote the use of cleaner energy sources.”[/size][/font][/justify]

[justify][font=Comic Sans MS][size=3]The Nigerian Liquefied Natural Gas (NLNG) Limited has expressed readiness to meet the growing demand from Portugal. Speaking on the development, NLNG’s Managing Director, Dr. Philip Mshelbila, highlighted the company’s commitment to expanding its export capacity and contributing to global energy security. “This partnership underscores Nigeria’s strategic importance in the global LNG market,” he said.[/size][/font][/justify]

[justify][font=Comic Sans MS][size=3]Energy analysts have noted that Portugal’s shift away from Russian gas could open up new opportunities for Nigeria’s LNG industry. However, they caution that Nigeria must address infrastructure challenges and security concerns in its oil and gas sector to maximize these opportunities.[/size][/font][/justify]

[justify][font=Comic Sans MS][size=3]The increased LNG trade between Portugal and Nigeria is expected to boost Nigeria’s foreign exchange earnings and support the country’s economic diversification agenda. It also aligns with global efforts to reduce greenhouse gas emissions, as LNG is considered a cleaner alternative to coal and oil.[/size][/font][/justify]
[/quote]

Return to this topic
Don't use smileys

Shortcuts: ALT+S post or ALT+P preview

Topic summary

Posted by toluwalopesong

- Jan 23, 2025, 09:32 PM

Portugal to Increase LNG Imports from Nigeria and the US, Reducing Reliance on Russia

Portugal has announced plans to expand its imports of liquefied natural gas (LNG) from Nigeria and the United States as part of a broader strategy to diversify its energy sources and reduce reliance on Russian gas. This move aligns with the European Union's efforts to strengthen energy security following geopolitical tensions and disruptions in traditional supply chains.

The Portuguese government revealed that the decision was driven by the need to secure a stable and sustainable energy supply while supporting global climate goals. Nigeria, as one of the world's leading LNG exporters, is expected to play a significant role in this diversification plan. The US, with its rapidly growing LNG production capacity, is also a key partner in Portugal's energy strategy.

Portugal's Minister of Environment and Climate Action, Duarte Cordeiro, stated, "Strengthening ties with reliable energy partners like Nigeria and the US is crucial for achieving our energy transition goals. This will not only ensure energy security but also promote the use of cleaner energy sources."

The Nigerian Liquefied Natural Gas (NLNG) Limited has expressed readiness to meet the growing demand from Portugal. Speaking on the development, NLNG's Managing Director, Dr. Philip Mshelbila, highlighted the company's commitment to expanding its export capacity and contributing to global energy security. "This partnership underscores Nigeria's strategic importance in the global LNG market," he said.

Energy analysts have noted that Portugal's shift away from Russian gas could open up new opportunities for Nigeria's LNG industry. However, they caution that Nigeria must address infrastructure challenges and security concerns in its oil and gas sector to maximize these opportunities.

The increased LNG trade between Portugal and Nigeria is expected to boost Nigeria's foreign exchange earnings and support the country's economic diversification agenda. It also aligns with global efforts to reduce greenhouse gas emissions, as LNG is considered a cleaner alternative to coal and oil.