Skip to comments.Gazprom seals $2.5bn Nigeria deal
Posted on 06/25/2009 10:02:47 PM PDT by FromLori
Russia's energy giant Gazprom has signed a $2.5bn (£1.53bn) deal with Nigeria's state operated NNPC, to invest in a new joint venture.
The new firm, to be called Nigaz, is set to build refineries, pipelines and gas power stations in Nigeria. Analysts say the move could further strengthen Russia's role in supplying natural gas to Europe.
The agreement comes during a four-day African tour by Russian President Dmitry Medvedev. As well as forming Nigaz, Russia is keen on developing a trans-African pipeline to transport Nigerian gas to Europe.
This could further reinforce Gazprom's already-strong influence over Europe's energy supplies. 'Commodity-rich'
"Russia has a number of goals [in Africa], one of which would be to take part in a growing competition for resources and markets on the continent - mainly with China," said Yaroslav Lissovolik, head economist with Deutsche Bank in Moscow.
Sergei Novikov, a spokesman for Rosatom, Russia's state-run civil nuclear energy agency, said the Nigaz deal would lay the foundations for building nuclear power reactors in Nigeria.
Nigeria has previously said it would like to develop a nuclear power plant to address its energy shortages. Before visiting Nigeria, Mr Medvedev spent time in Egypt.
He is also visiting Namibia and Angola - which are rich in natural resources - during his trip, as he seeks to promote Russian business interests.
(Excerpt) Read more at news.bbc.co.uk ...
Wonder what sharpton will do snicker
Once they signed the deal, it was “4 life.”
Account #’s, SS#’s and your mothers maiden name please...
And Obama fiddles while America burns.....while the rest of the world works its energy policies. America’s future is looking very bleak under this administration.
Rosatom? Sounds like a confused transgender person.
(some days I guess you CAN make up stuff this good!
I wonder if their facilities will be attacked.
I’m glad to see more oil being pumped. It
‘s absurd that we don’t pump more of our own. Instead we have to depend on Gazprom/Putin and Saudi/Wahhabists.
lol you make 2 so far
LUCKY FO’ US we don’t need any dat natchul gas cuz we got wimmills.
The descent continues.
Actually, we DON’T need offshore natural gas. Neither, one would think, does Russia. Hmmm. But the point is, while our heads are firmly ensconced in our anal cavities securing imaginary resources that cannot work and placing limitations upon ourselves in the name of junk climate science other nations are securing their futures with resources that DO work, are KNOWN to work, work NOW, and will work in the future.
We’re totally screwed if crap and trade passes. Totally.
Well, I did receive a preliminary offer to buy stock in the new company from an overseas source - so I acquired some shares.
They FED-X ed me a sizeable box full of the registered share certificates which, in opening, I spilled all over the place a little while ago...
now here I sit,
surrounded by my Nigaz.
Are you advocating for a US national oil company?
Would a US national oil company have advantages over a private company like Exxon in making deals with Nigeria?