Global Gas Markets Strain, Nigeria Sees Opportunity

The war in Iran has put global natural gas markets under strain, creating a potential opportunity for Nigeria to strengthen its position as a major gas supplier, according to Ekpo.

Nigeria’s minister of state for petroleum resources, Ekperikpe Ekpo, discussed plans for the Nigeria-Morocco gas pipeline, he said Nigeria is seeking to attract investment, expand production, and position its liquefied natural gas (LNG) for growing international demand, particularly in Europe.

Domestic Gas Prices Remain a Concern

But the opportunity comes as Nigerians continue to face high domestic cooking gas prices, Ekpo explained efforts to bring down liquefied petroleum gas (LPG) prices, move millions of households away from firewood, charcoal, and kerosene, and reduce gas flaring.

Evidence of these efforts includes plans to accelerate 20 gas projects toward final investment decisions before 2030, and these projects are expected to play a key role in Nigeria’s energy transition and broader economic development strategy.

Investment and International Demand Drive Strategy

Nigeria is working to position its liquefied natural gas (LNG) for growing international demand, particularly in Europe, as the global energy crisis continues — Ekpo emphasized that attracting investment is a top priority for Nigeria’s energy sector.

Ekpo said the Nigeria-Morocco gas pipeline is one of the key projects in the pipeline, though the pipeline is expected to enhance regional energy security and create new export opportunities for Nigeria’s gas sector.

At the same time, the government is also focusing on reducing gas flaring, which has long been a challenge in the oil and gas industry; Ekpo said the government is working with international partners to implement cleaner and more sustainable gas production methods.

Ekpo acknowledged that high domestic LPG prices remain a pressing issue for many Nigerian households; To address this, the government is exploring ways to subsidize LPG and improve distribution networks to ensure better access for consumers.

According to Ekpo, the government is also working to move millions of Nigerian households away from firewood, charcoal, and kerosene, which are not only costly but also harmful to the environment and public health.

Ekpo said the government is committed to expanding gas production and ensuring that Nigeria can take advantage of the growing global demand for natural gas, while he said the country has the potential to become a leading gas supplier in Africa and a major player in the global LNG market.

As the war in Iran continues to impact global energy markets, Nigeria is looking to position itself as a reliable and sustainable alternative supplier of natural gas. This, according to Ekpo, will require continued investment, policy reforms, and international collaboration to achieve long-term success.