The Nigerian National Petroleum Company Limited (NNPCL) says the ongoing conflict in the Middle East is creating fresh commercial opportunities for Nigeria, as global energy markets adjust to disruptions triggered by the war involving Israel, United States and Iran.
Speaking at the CERAWeek energy conference in Houston, the company’s Executive Vice President, Olalekan Ogunleye, said Nigeria is witnessing stronger demand for its liquefied natural gas as buyers seek more reliable supply routes.
“We are right in the middle of the market. We are 10 sailing days from Europe, close to the Atlantic Basin, and close to Asia,” Ogunleye said. “We see commercial opportunities on top of the fact that we have the most gas reserves in Africa.”
He explained that Nigeria LNG Limited currently exports up to 22 million metric tonnes annually and is expanding with a seventh production train expected by 2027, positioning the country to take advantage of shifting global demand.
Ogunleye added that gas demand has remained resilient despite geopolitical tensions, revealing that NNPC is already discussing plans for additional LNG trains and a 12 million metric tonnes per annum project to harness Nigeria’s vast gas reserves.
Industry observers, including LNG consultant Martin Houston, say the conflict has heightened the need for supply diversification, opening the door for African producers like Nigeria to gain a stronger foothold in the global market.
Meanwhile, Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said the government is intensifying efforts to attract investors, insisting the country now offers stability, regulatory clarity and a competitive edge as global energy players reassess their priorities.