Nigeria must significantly increase its LNG exports to Germany, asserts Kayode Oluwadare, a Regional Energy Partner and Director at Energy Compact, as reported by InfoStride News. Oluwadare emphasizes that the current demand for LNG is 400 million tons per annum (mtpa), and projections indicate that this demand will surge to 700 million mtpa by 2030. Recognizing this global trend, he urges Nigeria to tap into other markets and enhance LNG supply volumes to meet the growing global demand.
The recent development involves the Federal Government’s announcement of a memorandum of understanding (MoU) with Germany through Riverside LNG. The agreement outlines plans to supply gas to Germany, starting at 850,000 tons per annum and expanding to 1.2 million tons per annum. David Ige, CEO of GasInvest, highlighted the Riverside LNG project’s objectives during the signing, emphasizing its aim to provide energy from Nigeria to Germany and reduce flared gas in Nigeria by approximately 50 million cubic feet per day.
While the project signifies progress, some experts, speaking anonymously to InfoStride News, express reservations about its scale. They argue that the numbers presented in the MoU fall short of constituting a robust LNG export project. The experts stress that, as the top gas producer in Africa, Nigeria should aspire to higher LNG export targets, emphasizing the importance of economies of scale in the LNG business.

The experts also underscore the need for the private sector to take a leading role in driving the gas business in Nigeria. They argue that private enterprises are better equipped to address efficiency issues compared to the public sector. Regulatory assistance from the government is deemed essential to empower the private sector to play a pivotal role in Nigeria’s gas industry.
Riverside LNG, identified as a special purpose vehicle (SPV) of GasInvest, specializes in producing and selling small-scale liquefied natural gas (LNG). The SPV currently has a production capacity of 700 tons per day, with plans for expansion to 1,400 tons per day in subsequent phases. Riverside LNG operates under GasInvest, a key player in Nigeria’s natural gas sector.
Checking the Corporate Affairs Commission (CAC) website on November 27, InfoStride News confirmed that Riverside LNG became an active entity in November 2021. This signals a significant step forward in the project’s timeline, with expectations of an inaugural shipment of gas from Nigeria to Germany scheduled for 2026. The project’s phased expansion is anticipated to open new avenues for trade and collaboration between Nigeria and Germany in the LNG sector.
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