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Following the instability in the European gas market occasioned by Russia-Ukraine war which started in February 2022, the European Union (EU) looks up to Nigeria as an alternative to supplement its gas needs.
European energy markets are in need of more liquidity to deal with the increasing risk of trading volatile commodities and continue operating properly,
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Reducing resilience on Russian resources has steered Europe toward new sources for oil and gas and African LNG could be the answer.
The European Union (EU) has expressed interest in funding gas projects in Nigeria for guaranteed energy security in Africa and Europe.