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Nigeria and Russia sign gas pact
New York City News.Net
Friday 5th September, 2008
Nigeria and Russia have signed a pact to explore natural gas reserves in the West African nation.
The Lagos-based Guardian newspaper reported that Russia's energy giant Gazprom and the Nigerian National Petroleum Corporation signed a Memorandum of Understanding Wednesday for various gas projects in Nigeria.
The agreement has paved the way for joint projects in exploration, production, transportation of hydrocarbons, and construction of power plants.
Gazprom has listed Nigeria as one of its new investment zones.
In January this year, Gazprom proposed a multi billion dollar investment package for Nigeria, thus announcing to play a bigger role in the country's oil and gas sector.
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