The European Union (EU) has announced it is willing to partner with the Nigerian government to fund gas project in Nigeria to guarantee energy security in Africa and Europe.
This was disclosed in a meeting when Chief Timipré Sylva, Nigeria’s Minister of State for Petroleum Resources, received Mr Matthew Baldwim, Deputy Director-General, EU Energy Platform Task-Force in his office in Abuja.
On the sideline, Nigeria and Morocco are currently planning to build Africa’s longest offshore gas pipeline which will take gas to Europe.
What they are saying
According to reports, this was the second meeting in 4 months between the EU and the Minister, as the EU delegation is equally meeting other key ministries with relevant roles to play in guaranteeing energy security.
The Minister said the development would hasten the desire of the EU to guarantee alternatives to Russia’s gas.
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He described the assistance which covered security, technology development, financing and private sectors investment as worthwhile because finally, it had enabled Nigeria to be on the same page with the rest of the world.
He also criticized the manner in which the EU and Western nations took out investment in fossil fuel, stating that in years to come, fossil fuel would be very relevant while gas would be used as a transition fuel, He urged the EU to appeal to their financial institutions to be willing to relax stringent rules and remove bottlenecks bothering loans to enable sourcing funds under conducive agreement.
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“We have always said that we are committed to gas as a transition fuel and today we are speaking the same language with the EU.
“We are discussing with the EU on how to collaborate on developing technology and other support they can give Nigeria.
“They are responsible for the policy that will drive the investment,” he said.
On security, he said it was another area of cooperation because they went to the Niger Delta region to see for themselves what the security situation was, adding that part of the solution itself also required technology.
“The Niger Delta would be secured for oil and gas investments to continue to thrive while production quota would be shored up.
“To curb the insecurity in the region, he said there was a four-legged collaboration which involved the government, security agents, oil companies and communities,” he added.
Baldwin reinstated EU’s commitment in making the gas project a reality and expressed optimism for a sustainable partnership for the energy transition in Nigeria.
“I am very pleased to be working with you in a big way private sector investment is guaranteed; the more the security situation can be improved in the Niger Delta Region, the more investment we will see,” he said.
What you should know
- Nigeria and Morocco are set to build the world’s longest offshore pipeline and the second longest pipeline in the world to carry gas from Nigeria to Morocco, running across 11 West African countries.