On working meeting between Alexey Miller and Abubakar Yar'Adua
Today Alexey Miller, Chairman of Gazprom’s Management Committee held a working meeting with Abubakar Yar'Adua, Group Managing Director of the Nigerian National Petroleum Corporation and Tanimu Yakubu, Chief Economic Adviser to the President of Nigeria.
The parties addressed issues of bilateral cooperation including the establishment of a joint venture for oil and gas production, associated gas utilization and power generating capacity construction. The companies agreed to jointly build an integrated national gas pipeline system in Nigeria.
The Nigerian side expressed interest in partnering up with Gazprom in the Trans-Sahara Gas Pipeline construction project. This issue will be scrutinized by Gazprom.
Alexey Miller and Abubakar Yar'Adua also addressed the potential for sci-tech cooperation and know-how exchange in the gas industry management area.
Nigeria is one of the largest hydrocarbon feedstock producers in Africa. The country’s proven oil reserves exceed 9 bln t. In 2007 oil output reached 130 mtpa. Nigeria’s proven natural gas reserves account for 5.2 tcm.
Nigeria burns 40 per cent of extracted associated gas (24.1 bcmpa). The Nigerian Government plans to introduce a penalty system for associated gas flaring and fully stop gas flaring in 2009.
Liquefied natural gas (LNG) is produced at the NLNG plant on the Bonny Island. Production volume – 22 mtpa. There are plans to construct extra capacity.