"Our oversupply was a little less than 100,000 b/d against the agreed numbers, and so that is not really that significant," Kyari said.

Nigeria LNG took a major step forward by signing the EPC contract for its Train 7

Shell announced that all conditions for its Final Investment Decision (FID) on a new LNG processing unit at Nigeria LNG (NLNG) have now been met.

Growth in Sub-Saharan Africa has been significantly impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years,

Africa hopes to exploit its 509.6 Tft3 of proven natural gas reserves, which amount to nearly 7.3% of global total reserves of 6,951.8 Tft3.

Nigeria's GDP growth forecast for 2020 was revised down to 2 percent to reflect the impact of lower international oil prices. Inflation is expected to pick up, while deteriorating terms of trade and capital outflows will weaken the country’s external position.

Nigeria has 202tn ft³ of proven gas reserves and an additional 600tn ft³ of unproven potential resources. Despite having the largest gas reserves in Africa, only c.25pc of these reserves are currently productive.

The UK will no longer fund coal projects overseas, British Prime Minister Boris Johnson announced today during his opening address at the UK-Africa Investment Summit in London. Instead, the government will "turbo-charge" its support for low-carbon energy sources, he said, noting that the UK has cut its CO2 emissions by 42% from the 1990 level. The country is the host of the next round of UN climate talks - COP26 - in November.

The project, expected to start up in 2024, will increase Nigeria's LNG output capacity by 35% from current levels of 22.5 million mt per year to over 30 million mt per year, NLNG said.

The Nigerian National Petroleum Corporation (NNPC) has a 20%stake in the plant some 60 miles (100 km) southeast of Lagos.

Europe’s imports of liquefied natural gas (LNG) have been steadily increasing since October 2018, and reached a new monthly record of 12.7 billion cubic feet per day (Bcf/d) in November 2019

“С удовольствием хотел бы отметить, что наши контакты стали более регулярными и насыщенными, а сотрудничество между компаниями из России и Нигерии планомерно нарастает. Мы приветствуем подписание «на полях» саммита «Россия-Африка» меморандума о взаимопонимании между ПАО “ЛУКОЙЛ” и нигерийской нефтяной госкорпорации Nigerian National Petroleum Corporation, при этом есть стремление к развитию и газового сотрудничества”, - подчеркнул глава Минэнерго России.

“Rosatom [the Russian nuclear company] is prepared to help our African partners in creating a nuclear industry,” Putin said, with “the construction of research centers based on multifunctional reactors.”

"We need to replace 70-90% of carbon resources of energy by 2050 in order to avoid overheating the Earth," he said, adding that two-thirds of the world's population still relies on biomass. An alarming projection, he said, is that by 2050 African nations will be consuming as much energy per capita as they do now, but their population will have doubled to 1.4 billion. "This will have dramatic implications for healthcare, employment and migration in the future," he said. "Only nuclear power can stop this migration by helping to develop the region."

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received today at the Qasr Al Bahar, participants in the Africa Investment Summit, AIS, which is being hosted by the Abu Dhabi Investment Authority, ADIA, to increase dialogue between global investors and African financial and corporate entities. They were accompanied by H.H. Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA.