Tuesday April 21, 09:01 AM
12 firms shortlisted for Nigeria gas investment
ABUJA (AFP) - Twelve foreign companies have been shortlisted as prospective investors in Nigeria's vast gas sector, the head of state-run Nigerian National Petroleum Corporation (NNPC), Mohammed Barkindo, said Monday evening.
Three Nigerian companies have also been retained, Barkindo told journalists on the sidelines of a meeting with the potential investors.
"About 46 companies expressed their interest. We have carried out due diligence and come to a manageable level of 15 which we have invited today," he said.
The list of potential investors, made available to AFP, includes Russia's Gazprom Oil and Gas, E.ON Ruhrgas AG of Germany, BG Group Limited and Centrica Energy, both of Britain, Gas Natural SDG SA and Union Fenosa of Spain, and Gail India Limited.
Also listed are units of Shell and Chevron, Korea Gas Corporation Limited and PTT Plc of Thailand.
Junior oil minister, Odein Ajumogobia, said the session aimed to promote understanding of the country's massive gas potential.
He said the government intended to identify investors who can lead the way in "unlocking the huge gas potential that exists in Nigeria".
Nigeria says it has proven gas reserves of about 185 trillion cubic feet, the seventh largest in the world.
Nigeria derives more than 95 percent of its foreign exchange earnings from hydrocarbon exports.
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