Nigeria and Germany agree deal on gas and renewables
Nigeria is set to provide Germany with two percent of its liquified natural gas under an historic new energy deal signed on Tuesday. In return, Berlin will boost investment in renewable technologies in Nigeria. Nigeria and Germany have agreed on a deal for Africa's largest oil producer to supply more gas to Germany while Berlin will also invest $500 million in renewable energy projects, Nigerian President Bola Ahmed Tinubu said on Tuesday. In a Memorandum of Understanding (MOU) signed by Nigeria's Riverside LNG project, which works in the country's Niger Delta, and Germany's Johannes Schuetze Energy Import, Nigeria will export 850,000 tons of liquified natural gas (LNG) per year to Germany, increasing in future to 1.2 million tons. The first deliveries, which will represented 2% of Germany's total LNG imports, are expected to leave Nigeria in 2026. "This is a further step towards diversifying German gas imports," said Johannes Schuetze, chairma...