Nigeria and Spain are Set to Deepen Their Investments in Gas



While hosting a delegation from Spain which was led by its Foreign Affairs Minister, Jose Manuel Albares, the Minister of State, Petroleum Resources, Mr Timipre Sylva, described Spain as one of the biggest business partners of Nigeria. He stated that Spain has been a major partner of the Nigerian Liquefied Natural Gas (NLNG) since its establishment.

He said: “The Spanish Minister came early and he’s one of our first foreign ministers to visit us this year, and the benefits are enormous. Oil and gas is at core of our economy. The Minister’s visit is good and it signals the inflow of investments. It’s more of a diplomatic economic visit than political.

“As a country, we are focused on gas development since we have a lot of gas resources. 200trillion cubic feet of gas and with the right investments, we can move it to 600 tcf. Spain is who we are looking at bringing this investment. We have a Security challenge and Spanish can support us there even in investment too.”

In his remarks, the Spanish delegation leader said that Nigeria was its second biggest partner in the world. “Nigeria is a trustworthy partner and we thank the Minister for unveiling investment opportunities in the oil and gas sector. We want to deepen bilateral relationships in energy and other areas”, he said.




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