Gazprom Enters Development Talks with Nigeria

OAO Gazprom and the Nigerian government are in early talks about a deal by which the Russian natural-gas company would help explore and develop the West African nation’s huge gas resources, a senior Nigerian oil official and Gazprom officials said.

Gazprom spokesman Sergey Kupriyanov confirmed the company is in talks with Nigerian officials, saying, “We are interested in Nigeria, and the talks are under way.” He didn’t divulge a time frame.
A person at Gazprom said the company is keen to develop Nigeria’s gas resources but couldn’t provide a timetable for the talks. A Gazprom delegation visited Nigeria in December, this person said, for discussions on a variety of possibilities for participation in Nigeria’s gas sector.

Gazprom’s interest in Nigeria underscores the growing competitive threat of state-run companies to Western energy firms, which have found themselves increasingly losing out on deals to national companies that are often willing to take fewer profits to clinch deals.

Rigzone