Nigeria is seeing increased interest in its liquefied natural gas (LNG) shipments as supply disruptions linked to the Middle East conflict open up fresh business opportunities for the country.
According to NNPC Executive Vice President Olalekan Ogunleye, buyers are shifting toward Nigeria because of its strategic location near key markets and its vast gas reserves.
Nigeria LNG, where NNPC holds the largest stake, has the capacity to export up to 22 million metric tons annually and is constructing a seventh production train scheduled for completion in 2027, Reuters reported.
Ogunleye explained that Nigeria’s location offers a major advantage, noting it is about 10 sailing days from Europe and well-positioned between the Atlantic Basin and Asian markets, making it ideal for global supply.
He also emphasized that demand for natural gas worldwide remains strong despite geopolitical tensions and is expected to continue growing.
In addition, Ogunleye revealed that NNPC is exploring plans for two additional LNG trains while progressing with a 12 million metric tons per year LNG project, alongside gas-powered industrial hubs aimed at unlocking over 200 trillion cubic feet of reserves.
Rising geopolitical tensions have also driven a global push to diversify gas supply sources.
LNG expert Martin Houston noted that the U.S.-Israel tensions with Iran have heightened the urgency for buyers to reduce reliance on traditional suppliers.
He added that regions such as Africa and South America, which have proven gas reserves but limited access to markets, stand to gain from increased demand, including through floating LNG solutions.
This shift is already evident across Africa, where countries are attracting new energy partnerships.
Reports indicate that Italy is looking to boost gas imports from Algeria after both nations agreed to strengthen energy ties.
Similarly, Spain is considering increasing pipeline gas imports from Algeria to secure supply as prices climb due to the Middle East conflict.