Nigeria, Russia Join Forces On Oil
Russian energy giant Gazprom signed a $2.5bn (£1.53bn) deal with Nigeria’s state operated NNPC, to invest in a new joint venture called Nigaz.
Nigaz will build refineries, pipelines and gas power stations in Nigeria.The Nigaz deal would lay the foundations for building nuclear power reactors in Nigeria.
Russia is keen on developing a trans-African pipeline to transport Nigerian gas to Europe. The creation of Nigaz is seen as Russia’s move to strengthen its already-strong hold over supplying Europe with oil.