Ambassadors of the European Union to Nigeria on Monday, visited the Group Managing Director, GMD of the Nigeria National Petroleum Company Limited (NNPC), Mallam Mele Kyari.
The visit is in relation to the consolidation of gas and oil business between Nigeria and the EU.
Nigeria is the fourth largest exporter of natural gas to the EU market which consumes 40% of the country’s gas product.
The EU is also a major market for Nigeria’s crude oil.
The team led by the Ambassador of the EU Commission to Nigeria and the ECOWAS, Ms. Samuela Isopi reminded the NNPC management of the need to strengthen gas and oil trade between the two.
In his response, NNPC Managing Director, Mele Kyari assured the team of Nigeria’s partnership especially at a time the region is facing gas shortage due to the war going on between Russia and Ukraine.
Russia over the years had dominantly been the highest supplier of gas and oil to the EU, contributing 40% of their consumption.
Issues related to the war and sanctions have cut short the supply, causing serious economic upheaval in the region and an impending energy crisis.
