Expert urges Nigeria and Qatar to exploit EU gas market
Prof. Olanrewaju Aladeitan has urged other gas-producing nations to exploit the void left by Russia's lack of oil supply to Europe and expand their gas projects in order to enter the European market.
In an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday, oil and gas expert Aladeitan stated, "This is where countries like Qatar and Nigeria come in."
Aladeitan, a Teacher of Energy and Regular Assets, College of Abuja said the major off-taker of Nigerian gas was in Europe and there were on-going practical tasks to actualise that.
He stated that the crisis caused some shortfalls in continental Europe, the United Kingdom, and NATO allies regarding issues relating to the war between Russia and Ukraine and the strategic position of Russian Gazprom, the strategic producer and supplier of gas.
"Now normally, it follows basic business logic that any other gas producer should take advantage of the vacuum created by Russia's lack of oil supply, which is where countries like Qatar come in.
Therefore, in order to compensate for the absence of supply from Russia, North Europe is looking for convenient sources of supply.
Therefore, without a doubt, the Russian special operation or invasion has an impact on Ukraine's gas supply.
"Presently gas nations, of which Nigeria is one and a nation like Qatar will make the most of that open door obviously, in light of the fact that there is an interest.
He inquired, "How do you capitalize on that specific gap that has been left as a result of the decision of Gasprom to withdraw supply from that region?"
He stated that Nigeria would have been prepared to seize that opportunity if it had carried out the necessary actions as early as the 1970s or even as recently as the early 1990s and 2000.
He said that during these times, the Trans-Sahara Gas Pipeline (TSGP) project's entire concept was discussed and rethought, which would have made it easier to enter the EU market.
He stated, "If we had done that then, by now we would have used the market opportunity left by Russia's withdrawal and would have smiled to the bank."
He said that Nigeria took deliberate action to develop the gas sector, starting with the Nigerian Liquefied Natural Gas (NLNG) company.
He claimed that this was done in an effort to cut down on gas flares and take advantage of the country's gas reserves' economic potential.
He said that Europe was the biggest buyer of Nigerian gas, but the country had also been worried about how to get there and get the most out of it.
As per him, it is the reason the possibility of the TSGP project has forever been there as channeling the gas the entire way through will cost less on the grounds that the expense of transportation through the vessel is something different.
Therefore, it will be fine if we can accomplish the same goal through the Trans-Sahara pipeline.
The West African Gas Pipeline, which connects Ghana with Benin Republic and Togo, has also been in the works for some time.
He stated, "This is what has informed Nigeria's consideration of building these pipelines to Europe so that the gas can flow from there."
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