Nigeria to send more gas to Europe by winter – Official

Nigeria to send more gas to Europe by winter - Official
Nigeria to send more gas to Europe by winter - Official

Nigeria would build pipeline for gas through Algeria to Europe, says official

Nigeria will be able to send more liquefied natural gas (LNG) to Europe by winter, the country’s minister of state for petroleum resources said Thursday.

Timipre Sylva told the Gastech 2022 conference in Milan, Italy his country is currently delaying additional gas deliveries because of security problems, however, it would build a pipeline for Nigerian gas through Algeria to Europe.

Sylva said Nigeria would soon decide on the investment to build the infrastructure and the project will likely cost more than $10 billion.

“Nigeria and Algerian state oil companies would be involved in this process and other private investors have also shown interest,” he said.

Nigeria, whose oil reserves hit nearly 37 billion barrels, has 3.1% of the world’s reserves.

The country, which is among the top 15 countries in crude oil production, ranks eighth in oil reserves and sixth in oil exports.

According to a report, Nigeria will be able to send more Liquefied Natural Gas (LNG) to Europe by next winter, Minister of State , Petroleum, Timipre Sylva said on Wednesday at the Gastech conference in Milan, Italy.

Winter 2022 in Northern Hemisphere will begin on 21 December, and end on Monday, 20 March 2023 in Central European Time.

As Europe seeks alternatives to dwindling supplies of Russian gas, the minister said that security issues are delaying deliveries of more gas at the moment but Nigeria will build a pipeline Nigerian gas through Algeria to Europe.

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It’s unclear how Nigeria intends to achieve the feat. Despite its intention to raise supply , Nigeria has been unable to do so as a result of declining funding and lack of infrastructure.

Several delegations including the one led by the Deputy Director General, European Union Energy Platform Task Force, Mr Mathew Baldwin, have visited Nigeria in recent times to request more supply to Europe.

But Nigeria will soon take the final decision over the investment to build the infrastructure, the minister said in Italy, adding that the project is likely to cost more than $10 billion.

The Nigerian and Algerian state oil companies will be involved, Sylva said, adding that other private investors have also shown interest, according to a Reuters report. Italian energy group Eni may also be involved in the project, he said without elaborating.

“Everybody is welcome,” he added.

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