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.
Analysts say the move could further strengthen Russia's role in supplying natural 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.
Nigeria has previously said it would like to develop a nuclear power plant to address its energy shortages.
Hopefully, this joint venture will benefit both partners equally, however that is usually never the case. Here is the link link to the BBC article. With $2.5 billion you think someone involved would mention the implications of the name of the joint venture.
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