Government admits risk of Nigeria defaulting on gas supply to Portugal
The environment minister says the government is taking measures to mitigate the risk of interruption in gas supply, specifically from Nigeria, but it is still present.
Environment minister Duarte Cordeiro admits that although the government is trying to address the risk regarding the country’s gas supply, a key supplier, Nigeria, may not deliver the expected quantities of gas, which could mean changes in the price of this raw material.
“At any day, every [country] could have a problem” in the supply of gas, Duarte Cordeiro indicated at a conference organised by PwC and CNN Portugal. “We want to believe in our suppliers”, but, “the Nigerian government asks us the question of saying that we will fulfil the contracts, but there is the risk of not fulfilling them,” he admitted.
The consequence, should the risk of a supply interruption materialise, is that Portugal will now obtain gas at a higher price, and that will alter market prices, Cordeiro explained.
The Portuguese government has sought to mitigate this risk in the supply by diversifying suppliers, according to the environment minister. However, he says Portugal would like the European Commission to act by implementing common purchasing platforms and setting import prices.
