Gazprom forms alliance with leading Nigerian energy firm
Both are rich in natural resources and in need of financial stimulus, so it was only a matter of time before Russia and Nigeria formed an alliance. In this case, it is Gazprom and Nigeria's leading petroleum firm - Oando - in a deal that will see Russia expand its interests in West Africa, whilst financially compensating the country.
Whilst Nigeria's oil reserves have been well exploited over the past 50 years, their gas stocks are relatively untapped - enter Gazprom. The US$2.5 billion joint venture will see the Russian energy giant help Nigeria explore and develop their gas resources to address the country's chronic electricity shortages.
Gazprom has also said it would be willing to aid in a project to build an epic pipeline from Nigeria, across the Sahara, to Europe, at a cost of US$10 billion. It is believed Russia has put aside billions of dollars in order to fund Nigeria exploration projects.
Unsurprisingly the announcement has worried European groups and governments
who are already concerned about the continent's dependency upon Russia for oil. Also, some analysts have said that Russia's increasingly worldwide power ventures has meant that they are close to supplying almost every major consumer in East Asia, Europe and Africa.