The Federal Government has stepped up high-level discussions on a proposed transcontinental gas pipeline aimed at delivering its vast natural gas to European markets.
A Friday statement by Louis Ibah, spokesperson for the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, noted that the move is aimed at strengthening energy security and unlocking long-term economic value.
The proposed pipeline, described as a transformative gas corridor, is designed to transport up to 30 billion cubic metres of gas annually from Nigeria’s southern reserves through Chad and Libya, before extending subsea to Sicily, Italy, and into the broader European market.
What they are saying
The minister, Ekpo, who joined key industry stakeholders in London, United Kingdom, for discussions on the proposed pipeline, described the engagement as both timely and historic, adding that Nigeria is poised to attract investors into its gas sector.
- “Nigeria is set for investors to take advantage of this natural gas. The Petroleum Industry Act and the executive orders by Mr President for the petroleum sector have set a conducive environment to attract investments to the sector.
- “We must be intentional in the utilisation of our resources. So long as we have these reserves, we must take advantage of them and better the lives of those in the region,” Ekpo said.
The minister further noted that, with appropriate financial backing in place, he sees no obstacle to the project coming to fruition.
More insights
Also speaking, the Executive Vice President, Gas, Power & New Energies at NNPC Limited, Olalekan Ogunleye, assured Nigeria’s policy alignment and investment readiness, noting that the national oil company is focused on unlocking value across the gas value chain.
- “The NNPCL, as the national oil company of Nigeria, has a clear Gas Master Plan, and Mr President’s gas-led initiatives are designed to drive investments across the value chain.
- “The NNPC’s strategy is firmly aligned with the President’s agenda, and we are focused on creating investable opportunities, removing bottlenecks, and partnering with credible investors. Simply put, the NNPCL is ready for business,” he said.
On his part, the Founder and Chief Executive Officer of Netoil Inc., Roger Tamraz, who is spearheading the project, framed the pipeline as both commercially viable and strategically critical to Europe’s energy future, pointing to strong market demand and available financing structures.
Other consortium partners echoed similar sentiments, with the Chief Executive Officer of Unicorn, Alain Bolo, harping on the project’s potential to reduce gas flaring and position Nigeria as a dominant supplier to Europe.
The Project Director at Netoil, Henry Erimodafe, described it as a “strategic win-win” capable of unlocking jobs, investments, and long-term value.
The proposed pipeline, still at an early development stage, is being advanced by a consortium of global industry players and will be subject to extensive technical, commercial, and regulatory processes, with stakeholders expressing optimism that it could redefine Nigeria’s role in the global energy market while deepening ties with Europe.
What you should know
The conversation is coming at a time when oil supply is threatened globally due to the ongoing war in the Middle East.
- Nigeria has said it is ready to supply its oil to ease tensions across the globe amid the shortage.
- The Minister of Information and National Orientation, Mohammed Idris, said this during an interview with BBC Africa on the sidelines of President Bola Tinubu’s visit to the United Kingdom.
- The minister’s comments, published on Wednesday night on X, come amid the United States–Israel war against Iran, which has caused a global oil shortage.
Mohammed responded in the affirmative when asked if Nigeria would be willing to supply its oil amid the Middle East conflict.
