Nigeria Set to Begin Gas Supply to South Africa in 2024

Nigeria has made a significant announcement, revealing its plans to commence gas supply to South Africa in the first quarter of 2024. The news was brought to light by David Ige, the Executive of Riverside LNG, a reputable energy company based in Nigeria, during a recent interview in Abuja. Ige emphasized that discussions regarding substantial energy collaboration between the two countries have already been set in motion. He further highlighted Riverside LNG’s gas-export partnership agreement with Johannes Schuetze Energy Import AG of Germany earlier this year, indicating a proactive approach towards expanding their global reach. “We’d probably close out another segment of the market very early in the year, an off-take for South Africa. There’s a massively evolving gas market in the region, around 3,000 nautical miles of Nigeria. So that covers southern Africa, western Africa, all to northwest Europe and the Caribbean and South America broadly,” he stated, shedding light on the breadth of the prospective market. Notably, the Nigerian National Petroleum Company Limited has reported that Nigeria currently possesses an impressive 202 trillion cubic feet (tcf) of untapped proven gas reserves, underlining the country’s substantial potential as a key player in the global energy landscape. As such, the impending gas supply to South Africa holds significant implications for both nations, representing a pivotal milestone in their energy trade relations.