Nigeria and Germany agreed to work together on a deal that will send more gas to Germany. The deal also includes $500 million in renewable energy investments for Nigeria.
Nigeria’s leader said that a gas contract was approved at a business conference in Berlin between Riverside LNG project in the Niger Delta and a German company called Johannes Schuetze Energy Import.
David Ige, who is helping with the Nigerian project, said they will send a lot of energy from Nigeria to Germany each year. At first, it will be 850,000 tons, but it will increase to 1. 2 million tons later on. The first gas from the agreement will be sent to Germany in 2026.
The Union Bank of Nigeria and the DWS Group agreed for the German company to invest $500 million in renewable energy projects in Nigeria.
Germany is talking to Siemens, a big electronics company, to help Nigeria make its electricity supply better because Nigeria often has no power. This was reported by German state broadcaster Deutsche Welle.
German leader Olaf Scholz promised to give more money to help Nigeria’s important minerals and energy industries when he talked with President Bola Tinubu in Abuja in October.
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Nigeria and Germany sign gas supply deal
