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Nigeria, Spain Deepen Partnership on Gas Development, Investments

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Nigeria and Spain have expressed commitment to deepen bilateral relationship and partnership in investments and development of Nigerian gas resources for the global energy market.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, made this known in Abuja when he received Spanish Foreign Minister, Jose Albarese, in the company of other top officials and investors from Spain.

The News Agency of Nigeria (NAN) reports that the bilateral meeting between Nigeria and Spain dwelt on Spain’s investment on security, technology and development of Nigerian gas resources.

According to the minister, Spain has been a partner and customer of the Nigerian Liquified Natural Gas (NLNG) company from inception.

Sylva, who described Spain as one of the first countries to visit in 2023, said the visit could tell the importance of the relationship between the countries, adding that Nigeria required investments in the oil and gas sector, being the core of the economy.

He said the identified major investment companies and potential investors on the table, occasioned huge opportunities for Nigeria in view of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) already pitched the process of mini bid round.

“These are people that they would have ordinarily gone to meet in their country before any bid round, but in this case, the potential investors are here by themselves, so you can see why this meeting is very important.

“As a country, we need a lot of investments, we need Foreign Direct Investment (FDI) and Spain is one of the countries that we believe can give us a lot of that investment to help in development,” he said.