Nigeria has initiated high-level talks in London for a proposed $20 billion transcontinental gas pipeline intended to transport vast gas reserves from West Africa to European markets. The project, if realised, aims to enhance Nigeria’s role as a key energy supplier and bolster Europe’s energy security.
The planned pipeline corridor would traverse Nigeria, Chad, and Libya before crossing the Mediterranean via a subsea link to Sicily, Italy, and onward to other European nations. It is designed to carry up to 30 billion cubic metres of gas annually from Nigeria’s southern reserves, potentially creating a new export route that bypasses traditional bottlenecks.
Discussions involve a consortium led by Netoil Inc., alongside Nigerian National Petroleum Company Limited (NNPC Ltd) and other international partners. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the engagement as timely, stressing that recent reforms under the Petroleum Industry Act and presidential executive orders have created a more attractive investment climate for the gas sector. He highlighted the project’s potential to generate regional economic benefits and curb gas flaring.
The Executive Vice President of Gas, Power, and New Energies at NNPC Ltd, Olalekan Ogunleye, affirmed the national oil company’s alignment with federal gas-led initiatives and its commitment to fostering investable opportunities across the gas value chain. Roger Tamraz, CEO of Netoil, cited strong European demand and existing financing structures as factors making the pipeline commercially viable.
The project remains in an early development phase and faces extensive technical, commercial, and regulatory reviews, including negotiations with transit countries and European authorities. Proponents view it as a strategic long-term venture, though its final cost, timeline, and securing of firm commitments are yet to be determined.
Analysts note the pipeline could significantly diversify Nigeria’s gas export routes, currently limited by pipeline constraints and global market shifts. For Europe, it would add to efforts to replace Russian pipeline gas, aligning with the continent’s push for diversified energy sources. The initiative underscores Nigeria’s ambition to monetise its estimated 200 trillion cubic feet of gas reserves and attract foreign capital into its energy sector.
