http://news.bbc.co.uk/1/hi/business/8118721.stm

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.

The agreement comes during a four-day African tour by Russian President Dmitry Medvedev.

As well as forming Nigaz, Russia is keen on developing a trans-African pipeline to transport Nigerian gas to Europe.

This could further reinforce Gazprom's already-strong influence over Europe's energy supplies.

'Commodity-rich'

"Russia has a number of goals [in Africa], one of which would be to take part in a growing competition for resources and markets on the continent - mainly with China," said Yaroslav Lissovolik, head economist with Deutsche Bank in Moscow.

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.

Before visiting Nigeria, Mr Medvedev spent time in Egypt.

He is also visiting Namibia and Angola - which are rich in natural resources - during his trip, as he seeks to promote Russian business interests.

"Part of the agenda is to push Russia's credentials as a representative of commodity-rich developing countries with such forums as the G8 and the G20," said Ural Sib bank's chief strategist Chris Weafer said in a note to investors.

Chinese deal

Russia is not alone in seeking to secure energy deals overseas with commodity-rich nations.

Separately on Thursday, Chinese oil refiner Sinopec has made a $7.2bn bid to acquire oil exploration and producing firm Addax, which focuses on Africa and the Middle East.

If the deal is approved by regulators it would be the biggest foreign takeover by a Chinese firm.

"Nigaz" lol.
And this is the chief Gas explorer

ROFL..you got this from failblog.org didn't you? :P Still awesome!


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Tu dhoop hain jham se bikhar
Tu hai nadee o bekhabar
Beh chal kahin ud chal kahin
Dil khush jahan teri toh manzil hai wahin.

BBC news I'm afraid.

Nigeria is the worst place to work in the oil industry. People defacating on the streets, kidnappings, thefts, murders. Rampant government corruption and malaria.

"Nigeria is the worst place to work in the oil industry. People defacating on the streets, kidnappings, thefts, murders. Rampant government corruption and malaria."

That's why they send the buffalo buggering badass engineer Jim Button and "Nigaz"

But seriously. I simply do not understand how it is possible that there is no one in Nigeria or Gazprom who might think it could be a bad idea to name the company "Nigaz". If Gazprom whould be an American or European company, there would be a public outcry and the persons who created the name would be fired immediately.

"If Gazprom whould be an American or European company"

Gazprom is a European company. Russia doesnt buy into the PC crap, the name wasnt meant as an insult so its just another company name.

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"A navy doesn't get built in 2 years. If we want to have a new navy by 2050, then we should have started yesterday." Vysotskiy

why our ummah brothers callings nigeria worst placeings to workings?

most EMirati residents largest groups are beings rodent whorshipping hendis it seemeds u never heards of or visiteds hendistan?

@westrns lewdity faggetry persons,

why its beings problematics if the name is beings nigaz?

gaz prom makings its 'nigerian gazprom' ni- gaz?

donts tell me u donts havings gaz connections in gaymany or beings jealous of russians cooperations with afriquans?

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I am old Christiankiller
Sorry for offensive to our good religion christian brothers
I am not hating christians

"Nigeria is the worst place to work in the oil industry. People defacating on the streets, kidnappings, thefts, murders. Rampant government corruption and malaria."

So basically Russia just with Malaria?




"Korea has not been the only battle ground since the end of the Second World War. Men have fought and died in Malaya, in Greece, in the Philippines, in Algeria and Cuba, and Cyprus and almost continuously on the Indo-Chinese Peninsula. No nuclear weapons have been fired. No massive nuclear retaliation has been considered appropriate. This is another type of war, new in its intensity, ancient in its origin--war by guerrillas, subversives, insurgents, assassins, war by ambush instead of by combat; by infiltration, instead of aggression, seeking victory by eroding and exhausting the enemy instead of engaging him. It is a form of warfare uniquely adapted to what has been strangely called 'wars of liberation,' to undermine the efforts of new and poor countries to maintain the freedom that they have finally achieved. It preys on economic unrest and ethnic conflicts. It requires in those situations where we must counter it, and these are the kinds of challenges that will be before us in the next decade if freedom is to be saved, a whole new kind of strategy, a wholly different kind of force, and therefore a new and wholly different kind of military training."-President Kennedy's Address at Graduation Exercises of the U.S. Military Academy, 1962
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"The reason I'll be released is the same reason you think I'll be convicted. I do rub shoulders with some of the most vile, sadistic men calling themselves leaders today. But some of these men are the enemies of your enemies. And while the biggest arms dealer in the world is your boss - the President of the United States, who ships more merchandise in a day than I do in a year - sometimes it's embarrassing to have his fingerprints on the guns. Sometimes he needs a freelancer like me to supply forces he can't be seen supplying. So. You call me evil, but unfortunately for you, I'm a necessary evil."-Yuri Orlov, Lord of War
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"Of all the weapons in the vast soviet arsenal, nothing was more profitable than Avtomat Kalashnikova model of 1947. More commonly known as the AK-47, or Kalashnikov. It's the world's most popular assault rifle. A weapon all fighters love. An elegantly simple 9 pound amalgamation of forged steel and plywood. It doesn't break, jam, or overheat. It'll shoot whether it's covered in mud or filled with sand. It's so easy, even a child can use it; and they do. The Soviets put the gun on a coin. Mozambique put it on their flag. Since the end of the Cold War, the Kalashnikov has become the Russian people's greatest export. After that comes vodka, caviar, and suicidal novelists. One thing is for sure, no one was lining up to buy their cars."-Yuri Orlov, Lord of War
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"So basically Russia just with Malaria?"

The homicide rate in Moscow is about the same as New York, and we have a crap load of illegals from Caucasus who are contributing to the crime wave. US even has neighborhoods which you cant go into at night because youll get shot, this is almost unheard off in Russia and the rest of Europe. The reason why the murder rate for the country is high is because of the Caucasus, something US doesnt have to deal with.

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"A navy doesn't get built in 2 years. If we want to have a new navy by 2050, then we should have started yesterday." Vysotskiy

"The reason why the murder rate for the country is high is because of the Caucasus, something US doesnt have to deal with."

No, but they do have to deal with up to 45.000.000(only legals!!)) Hispanics. Incl. Mexican drug mafia and Mara Salvatrucha guys...
Altogether many more people than the whole poulation of the Caucasus counts.
And "Nigaz" has a large subdivision there too....

Murder rate is number of homicides per 100000, so its essentially percent based. There has been a war in the Caucasus, however the murders there still count in the homicide rate. US has had no war on its territory.

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"A navy doesn't get built in 2 years. If we want to have a new navy by 2050, then we should have started yesterday." Vysotskiy