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[BUSINESS] · Nigeria, Bangladesh, United States, Senegal, Russia · 3 sources

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Part of situation: Nigeria advances oil, gas, and power infrastructure targets (36 clusters)

Nigeria seeks global gas investment and new export markets

Nigeria gas reserves gas flaring penalties Gastech 2026 energy diplomacy LNG exports

Nigeria is actively pursuing international partnerships to monetize its 215.19 trillion cubic feet of proven gas reserves. During the Gastech 2026 summit in Bangkok, Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo held high-level discussions with officials from Bangladesh, the United States, Senegal, and Russia to attract investment and expand export markets.

Key developments include Bangladesh expressing interest in Nigerian liquefied natural gas (LNG) and crude oil, and discussions with Libya regarding a proposed gas pipeline to European markets. The Nigerian government is emphasizing investor-friendly reforms under President Bola Tinubu to secure strategic partnerships and infrastructure financing.

Concurrently, data from the Nigerian Upstream Petroleum Regulatory Commission reveals that between 2021 and 2025, the country lost approximately 1.02 trillion cubic feet of gas to flaring. During this period, oil companies paid N1.22 trillion in penalties for failing to implement gas gathering and processing infrastructure. Experts note that the wasted gas could have generated significant electricity or fetched up to N10 trillion in commercial and export markets.

Entities

Ekperikpe Ekpo · NNPC Ltd. · Nigeria · Nigerian Upstream Petroleum Regulatory Commission · Seplat Energy

Claims

What the coverage asserts, and how many sources carry each claim.

  • [○ 1 SOURCE] Nigeria and Libya are advancing a framework for a proposed gas pipeline to European markets. bizwatchnigeria.ng
  • [● 2 SOURCES] Nigeria aims to convert 215.19 trillion cubic feet of proven gas reserves into economic growth and industrial development. cedmagazineng.com · bizwatchnigeria.ng
  • [○ 1 SOURCE] Nigeria wasted approximately 1.02 trillion cubic feet of gas to flaring between 2021 and 2025. thewhistler.ng
  • [○ 1 SOURCE] Oil companies paid N1.22 trillion in penalties for gas flaring between 2021 and 2025. thewhistler.ng
  • [● 2 SOURCES] Bangladesh expressed interest in sourcing Nigerian liquefied natural gas and crude oil. cedmagazineng.com · bizwatchnigeria.ng

Sources

US, Bangladesh, Others Discussed Gas Deals With Nigeria At Gastech 2026 – Ekpo [cedmagazineng.com]
FG seeks gas investment as Nigeria targets new export markets [bizwatchnigeria.ng]
Flaring Penalties Yield N1. 22tn Revenue As Nigeria Burns 1. 02Tcf Of Gas [thewhistler.ng]