Thursday, June 25, 2009

Gazprom And State Of Nigeria Create JV Named "Nigaz"

You can't make this up. Compliments of the BBC.
Russia's energy giant Gazprom has signed a $2.5bn (£1.53bn) deal with Nigeria's state operated NNPC, to invest in a new joint venture.

The new firm, to be called Nigaz, is set to build refineries, pipelines and gas power stations in Nigeria.
As well as forming Nigaz, Russia is keen on developing a trans-African pipeline to transport Nigerian gas to Europe.
Sergei Novikov, a spokesman for Rosatom, Russia's state-run civil nuclear energy agency, said the Nigaz deal would lay the foundations for building nuclear power reactors in Nigeria.
hat tip Robin

PS. Google's adsense has a wicked sense of humor - I seem to be hosting Red Roof Inn ads now. Oh well.
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