Middle East Crisis Opens LNG Opportunities for Nigeria – NNPC

The ongoing Middle East conflict involving Israel, the United States and Iran has created fresh commercial opportunities for Nigeria in the global energy market, the Nigerian National Petroleum Company (NNPC) Limited has said.

The Executive Vice President of Nigerian National Petroleum Company Limited, Olalekan Ogunleye, disclosed this at the CERAWeek energy conference in Houston, noting a surge in demand for Nigeria’s liquefied natural gas (LNG) cargoes.

According to him, geopolitical tensions have disrupted global energy supply chains, prompting buyers to seek more reliable and strategically located suppliers, with Nigeria emerging as a key beneficiary.

“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, adding that Nigeria’s vast gas reserves position it strongly to meet rising demand.

Nigeria LNG (NLNG), where NNPC is the largest shareholder, currently exports up to 22 million metric tons annually and is constructing a seventh production train expected to be completed by 2027. Ogunleye also revealed ongoing discussions to add two more LNG trains, alongside plans for a 12 million metric tons per annum project and gas-based industrial hubs to harness over 200 trillion cubic feet of gas reserves.

Industry experts say the conflict has heightened the need for countries to diversify energy sources, with Africa and South America gaining attention as alternative suppliers.

Meanwhile, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said Nigeria is actively attracting foreign investment into its oil and gas sector.

Speaking at the same conference, Lokpobiri described Nigeria’s crude as among the best globally and revealed that discussions have been held with major international oil companies, including Shell, Chevron, TotalEnergies, Eni, and ExxonMobil.

He said recent reforms have improved Nigeria’s investment climate, offering fiscal clarity, regulatory stability and a more attractive environment for investors.

“Given current global realities, it is better for investors to come to Nigeria where there is stability, clarity and strong legal frameworks,” the minister stated.

The development underscores Nigeria’s growing relevance in the global energy market as geopolitical tensions reshape supply dynamics and investment flows.