Nigeria-based energy company Riverside LNG has unveiled discussions centred on a prospective gas supply agreement with South Africa, set to commence in the first quarter of 2024.
The potential deal signifies a pivotal collaboration between the two nations within the energy sector.
CEO David Ige disclosed the ongoing negotiations, highlighting the company’s drive to forge new partnerships across the African continent.
Riverside LNG had previously entered a gas-export partnership with Johannes Schuetze Energy Import AG of Germany earlier this year.
In an interview in Abuja, Ige emphasized Nigeria’s significant gas reserves in Africa and hinted at the company’s intention to broaden its market reach.
“We’d probably very early in the year close out another segment of the market, an off-take for South Africa. There’s a massively evolving gas market in the region, anything around 3,000 nautical miles of Nigeria,” stated Ige during the briefing in Abuja.
He said the coverage encompasses southern Africa and western Africa and extends to northwest Europe, the Caribbean, and South America.
While outlining the expansion plans, Ige refrained from sharing specific details about the ongoing talks with South African counterparts, citing confidentiality clauses.
He added that Riverside LNG is actively exploring potential opportunities in Liberia and Cameroon as part of its strategic growth initiatives.
