Germany’s Johannes Schuetze Energy Import has signed a memorandum of understanding with Riverside LNG to buy liquefied natural gas from the latter’s planned project in Nigeria.
The deal was signed in Berlin during the 10th German-Nigerian Business Forum, and was witnessed by Nigeria’s President Bola Tinubu, according to a statement by his office.
Besides this memorandum, another deal between Union Bank of Nigeria and DWS Group was signed for $500 million worth of renewable energy projects in Nigeria.
CEO of GasInvest, David Ige, who signed the memorandum on LNG supply, said the Riverside LNG project “will supply energy from Nigeria to Germany at 850,000 tonnes per annum, expanding to 1.2 million tonnes per annum.”
”The first gas will leave Nigeria for Germany in 2026, and there will be further expansion. This will extinguish about 50 million cubic feet per day of flared gas in Nigeria and open alleyways of new and greater exports of gas to Germany,’’ he said.
Chief Operating Officer of Johannes Schuetze Energy Import, Frank Otto, who signed the memorandum on behalf the German firm, described the partnership as a “big deal” for the German market.
The statement did not provide any additional details.
LNG Prime invited Johannes Schuetze to comment on the matter, but we did not receive a reply by the time this article was published.
Nigerian LNG export
Nigeria currently exports LNG via the giant Bonny Island liquefaction end export plant.
Nigeria LNG is owned by the Nigerian National Petroleum Corporation (49 percent), Shell (25.6 percent), TotalEnergies (15 percent), and Eni (10.4 percent), and currently operates six LNG trains with a capacity of 22 mtpa.
Besides the six existing trains, Nigeria LNG is also adding the seventh production unit at the Bonny Island plant which will boost its capacity to about 30 mtpa.
Besides this plant, there are plans for floating LNG production projects, including UTM Offshore’s FLNG project with a capacity of 1.5 mtpa which will process associated gas from the Yoho field currently flared.