December 8, 2022

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Portugal in dilemma if Nigeria fails to ship LNG – EU’s Vitality Minister


Portugal might face provide issues this winter if Nigeria doesn’t ship all of the liquefied pure gasoline (LNG) it is because of, the European Union nation’s surroundings and power minister mentioned on Monday.

Requested whether or not with many international locations now searching for options to Russian gasoline there was an opportunity that Nigeria won’t meet its LNG provide volumes, Duarte Cordeiro mentioned that whereas the federal government had given Lisbon assurances that it could accomplish that, “there’s a threat of it not complying”.

“From in the future to a different, we could have an issue, comparable to not being provided the quantity of gasoline that’s deliberate,” Cordeiro advised a convention in Lisbon hosted by CNN Portugal.

Cordeiro didn’t say what would forestall Nigeria supplying the LNG it was contracted to.

Oil and gasoline output in Nigeria has been throttled by theft and vandalism of pipelines, leaving gasoline producer Nigeria LNG Ltd’s terminal at Bonny Island working at 60 per cent capability.

Nigeria LNG, which is owned by state-oil firm NNPC Ltd, Shell, TotalEnergies and Eni, didn’t instantly reply to a request for remark.

Though Portugal has its gasoline reserves at 100 per cent of storage capability, Cordeiro mentioned that if fewer Nigerian LNG deliveries materialised, it must search for various provides.

With different European international locations doing the identical, this might possible result in increased imported gasoline costs, he mentioned.

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