Nigeria and Morocco are yet to secure funds for a mega pipeline project to bring Nigerian gas to North Africa and Europe, Nigeria’s oil minister, Timipre Sylva said.
Since the start of Russia’s invasion of Ukraine, Africa’s gas reserves have come under increasing scrutiny, with the European Union, in particular, looking for alternatives to its gas supplies from Russia.
Four years ago, Morocco’s King Mohammed VI and Nigeria’s President Muhammadu Buhari agreed on a mega-project to transport gas along the Atlantic coast, over 3,000 km. This was after an agreement serving this purpose was signed in 2016.
Sylva said the pipeline would be an extension of a pipeline that has been carrying gas from southern Nigeria to Benin, Ghana and Togo since 2010. “We want to continue this same pipeline to Morocco along the coast.
Today, (the project) is still under study,” Sylva said on Monday.
“We are in the process of securing financing and many people are showing interest,” the minister continued.
“The Russians were in my office last week, they are very keen to invest in this project,” he said.
According to the minister, there have been many foreign interests but the government is yet to identify the investors they want to partner with.
There has long been interest in bringing Nigerian gas to North Africa, with Algeria leading discussions in 2002 for a similar pipeline project through the Sahel region.
Nigeria, an OPEC member, has huge gas reserves, the largest in Africa and the seventh-largest in the world.
Europe turns to Nigeria to fill the gap in gas supply
On Monday, the EU Ambassador to Nigeria, Samuela Isopi, together with France, Italy, Portugal and Spain’s ambassador met with the management of the Nigerian National Petroleum Company (NNPC).
The European Union is courting its first African liquified natural gas supplier. EU Ambassador to Nigeria, Samuela Isopi, together with France, Italy, Portugal and Spain’s ambassadors visited Monday the headquarters of the NNPC and met with the company’s management. The visit came as Europe tries to reduce its reliance on Russian gas. After the United States and Qatar, Russia was in 2021, Europe’s third liquified natural gas supplier.
The European envoys to Nigeria therefore sought to strengthen their cooperation in the energy sector with Africa’s top economy.
According to a statement by the NNPC spokesperson, the group managing director assured the European delegation that the company would continue to deepen its relationship with EU companies in Nigeria. He added the company would work particularly towards increasing gas supply to the global market.
The same day, Italy secured a deal with Algeria for more natural gas imports.
Since the conflict between Russia and Ukraine broke out in February, Europe has turned towards different African partners to reduce dependence on Russian energy.
Nigeria and Algeria are the biggest African liquified natural gas suppliers to the Old continent.
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