Gazprom Eyes Nigerian Gas

Russia's state-owned gas and oil giant Gazprom is in talks with Nigeria to develop its natural gas reserves, Nigerian officials have announced.

Gazprom has offered to initially invest between US$1bn and US$2.5bn, according to an unnamed government official talking to Reuters.

The Nigerian official claimed that UK-based companies BG Group and energy company Centrica have also proposed multi-billion dollar investments in Nigerian gas.

Gazprom has not commented on the talks.

Nigeria is the world's eighth-biggest exporter of crude oil but has the seventh-largest proven gas reserves in the world, a large part of which remains undeveloped.

By staff writer