The recent proposal aimed at strengthening bilateral ties between Pakistan and Russia has sparked interest in expanding Moscow’s presence in Africa’s energy sector. This move comes as Pakistan shifts its strategy from previous attempts at oil and gas exploration in Iraq to investing in oil and gas fields already under development.
According to reports from The Express Tribune, Pakistan is looking to reduce risk and enhance returns by investing in projects in Nigeria involving Russian firms. During a visit to Moscow, a Pakistani delegation led by Petroleum Minister Ali Pervaiz Malik expressed interest in acquiring stakes in such projects, with Russian energy giant Gazprom leading the initiative.
Gazprom, known for its natural gas exports to Europe and Asia, has been expanding its presence in Nigeria’s oil industry through strategic partnerships and joint ventures. The company has previously engaged in exploration and production-sharing arrangements in countries like Algeria, Libya, and Nigeria.
In Nigeria, Gazprom signed a $2.5 billion deal with the Nigerian National Petroleum Corporation over a decade ago, solidifying its presence in the African nation. The invitation for Pakistan to co-invest in Nigerian oil and gas fields signifies a strategic alignment that could potentially reshape energy diplomacy in Eurasia and Africa.
This partnership, if finalized, would bring together Russian assets, Pakistani capital, and Nigerian resources in a tri-continental energy alliance. It also highlights Russia’s strategic outreach in Africa, particularly in Nigeria, which boasts the continent’s largest proven gas reserves and plays a significant role in global crude exports.
While no binding agreements have been signed yet, the initiative signals the potential for a new axis of energy cooperation that could have far-reaching implications for the energy landscape across Eurasia and Africa. Stay tuned for further developments on this evolving partnership.
