NIGERIA IS SET TO COMMENCE THE EXPORT OF GAS TO GERMANY STARTING IN 2026.

Nigeria is poised to kick off gas exports to Germany in 2026, following the signing of two Memoranda of Understanding (MoUs) between the two nations. The agreements, inked during the 10th German-Nigerian Business Forum in Berlin, include a $500 million deal for renewable energy projects and another for the supply of gas from Nigeria to Germany.

Under the newly established agreement, Nigeria is scheduled to export its initial batch of gas to Germany in 2026, concurrently addressing the issue of approximately 50 million cubic feet per day of flared gas in Nigeria. President Bola Ahmed Tinubu, who witnessed the MoU signings, highlighted Nigeria’s robust democracy as an attractive factor for foreign direct investments.

President Tinubu assured German businesses of the stability of Nigeria’s political landscape, emphasizing the country’s commitment to economic reforms and fostering stronger Nigerian-German relations. He underscored the success of his administration’s achievements, including economic reforms and the removal of the fuel subsidy, expressing confidence in Nigeria’s potential for progress.

The MoUs were signed between Riverside LNG of Nigeria and Johannes Schuetze Energy Import AG of Germany for the gas export partnership. Another pact brought together Union Bank of Nigeria and DWS Group for cooperation in renewable energy.

CEO of GasInvest, Mr. David Ige, signatory of the gas supply MoU, detailed the Riverside LNG project’s goal to supply energy from Nigeria to Germany, eliminating approximately 50 million cubic feet per day of flared gas. The project aims to start exporting gas to Germany in 2026, with plans for expansion.

German partners, including Johannes Schuetze Energy Import AG’s Chief Operating Officer, Mr. Frank Otto, expressed confidence in investing in Nigeria’s gas sector, describing the partnership as significant for the German market. Chairman of Union Bank, Mr. Farouk Gumel, disclosed a commitment of $500 million for e-energy projects in Nigeria, emphasizing the importance of rural inclusion for economic growth.

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