Saturday, August 30, 2008

Britain and Nigeria to Cooperate on Energy

Nigeria and Britain have agreed to collaborate on development of Nigeria's energy sector, Minister of State for Energy has announced.

According to a government statement, both countries have agreed to establish a joint steering committee to ensure mutual collaboration on energy issues. "The two countries recognised the current global shortage of skills in the oil and gas sector and agreed to work together through the International Energy Forum and the Organisation of Petroleum Exporting Countries to invest in human resources," said a statement.

British Secretary of Energy Malcolm Wicks said many countries around the world are wasting energy, yet it is in high demand across the globe, further expressing concerns with oil and gas production, ending gas flaring, and restructuring of Nigerian National Petroleum Corporation (NNPC).

Minister Odein Ajumogobia said both countries are exploring opportunities to manage demand and supply and also conserve energy. He said other areas of focus would include increasing direct investment, sustainable development, global warming and cargo storage.

"We will look at existing energy efficiency initiatives and also at what new technologies might support these endeavours. An excellent example of where increased energy security and climate change come together is the new technology on carbon capture and storage and enhanced oil recovery," read a statement by Nigerian government.

The ministers also admitted that energy security was a priority issue for both nations and there were significant challenges facing both governments, which could only be addressed by working together to develop a shared understanding of future supply and demand.

The meeting was a follow up to an earlier meeting between President Yar'Adua and Prime Minister Gordon Brown. Nigeria and Britain ties were strengthened after Britain's pledge to assist Nigeria to fight insurgency in the oil rich Niger Delta. Mr Yar'Adua has called for international support to curb oil smuggling, which is fuelling unrest in the country's southern Niger Delta.

Source: afrol News

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