Nigeria Reiterates Growing Plans to Address Gas Supply Crunch in Europe, Asia

By Adedapo Adesanya

Nigeria is making a renewed push to expand its footprint in the global liquefied natural gas (LNG) market, with a goal to addressing supply gaps across Europe and Asia.

This comes as the Nigerian National Petroleum Company (NNPC) Limited assured investors that the country was strategically positioned to supply the next wave of export projects.

Speaking during a high-level panel on Expediting the Next Wave of Export Projects to Mitigate the Global LNG Supply Crunch at the Gastech 2025 Conference in Milan, NNPC’s Executive Vice President, Gas, Power & New Energy, Mr Olalekan Ogunleye, said Nigeria intends to leverage its vast gas reserves to meet surging global demand while driving domestic growth.

“The LNG supply crunch is real and it is global. Nigeria has the resources, the market alignment, and the enabling policies to step up and play a bigger role in addressing it,” Mr Ogunleye told delegates.

He noted that with more than 200 trillion cubic feet of proven gas reserves, Nigeria represents one of the most attractive destinations for long-term LNG investment, particularly for Europe, which is racing to secure reliable suppliers.

“This is the best time for investors to get on board. NNPC Ltd is committed to forging strategic partnerships that will unlock the full potential of Nigeria’s gas resources for the benefit of our people and the global energy community,” Mr Ogunleye declared.

According to him, government-backed incentives, regulatory alignment, and pro-business reforms have repositioned Nigeria to fast-track new LNG export projects that can feed international markets hungry for stable supply.

He stressed that the country’s gas development agenda was designed not only to expand export volumes but also to balance foreign exchange earnings with industrial growth at home.

“With pro-business regulators, aligned stakeholders, and government-backed incentives now in place, Nigeria offers one of the most competitive landscapes for energy investment,” Mr Ogunleye examined.

Mr Ogunleye pointed out that global LNG demand is projected to outstrip supply growth through the decade, with analysts warning of prolonged volatility in prices.

He said Nigeria sees this not just as a challenge, but as a window of opportunity to reclaim its competitiveness.

“The world is looking for reliable partners. Nigeria is ready to be one of them,” he affirmed.