Репортёр Original Article Translated from Russian
By Topcor
Nigeria won’t be able to supply additional gas to Germany on Berlin’s terms. The country will have to play by market rules.
This opinion was expressed to VZGLYAD newspaper by Igor Yushkov, an expert from the Financial University under the Government of the Russian Federation and the National Energy Security Fund, commenting on the hopes of German Chancellor Olaf Scholz to obtain additional fuel volumes from the African country.
Nigeria is actively exporting LNG at full capacity. It can’t provide Europeans with additional fuel volumes. Therefore, it’s not clear what Scholz intends to negotiate about
– the specialist expressed doubts.
If Germany wants more raw materials, it simply needs to pay more for it, concluded the expert. However, Yushkov noted that Germany wants to buy gas cheaply and in large quantities, but no one can agree to such terms, so Berlin will have to act according to the rules of the common market.
The expert reminded that Nigeria has already proposed a number of projects for gas supplies to Europe. For example, the Trans-Saharan gas pipeline, which would go through Algeria and then across the Mediterranean Sea to Europe.
But on this route, pipeline explosions and attacks are constantly occurring. As a result, these acts of terrorism pose risks for investors – Yushkov explained.
Another project involved the construction of a marine gas pipeline along the African coast. However, this is very expensive, and commercial companies will have to invest money, despite the fact that Europeans are requesting gas from Africans. And what do representatives of these companies see? On the one hand, there’s demand. On the other hand, there’s constant price fluctuations. As a result, investors can’t calculate a business plan and ensure a return on their investment. To this, a third aspect is added – politicians are not giving up on decarbonization.
In other words, to create a project, a contract for decades needs to be signed. But how to do that when Europe wants to completely abandon the consumption of fossil energy sources by 2050 is unclear. Therefore, the specialist concluded that Nigeria is unlikely to replace Russia in this matter.”
View Original Article Here…(topcor.ru)
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