The Federal Government has increased its high-level discussions on a planned transcontinental gas pipeline aimed at delivering its vast natural gas to European markets.
This move will also strengthen energy security and unlock long-term economic value.
Minister of State Petroleum Resources (Gas), explained that the proposed pipeline 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.
He joined key industry stakeholders in London, United Kingdom for discussions on the proposed pipeline.
He described the engagement as timely, 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. With the Petroleum Industry Act and the Executive orders by Mr. President for the petroleum sector has 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.
He noted that, with appropriate financial backing in place, he sees no obstacle to the project coming to fruition.
Executive Vice President, Gas, Power & New Energies at NNPC Limited, Mr. Olalekan Ogunleye, assured on 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. 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, NNPCL is ready for business,” he said.
Founder and Chief Executive Officer of Netoil Inc., Roger Tamraz, who is leading 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.
The planned pipeline, 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.
