EU mulls gas investment in Nigeria to accelerate energy transition

The European Union (EU) has expressed interest in funding gas projects in Nigeria for guaranteed energy security in Africa and Europe. 

Matthew Baldwim, deputy director-general, EU Energy Platform Task-Force, said this on Friday when he led a delegation to visit to Timipre Sylva, minister of state for petroleum resources, in Abuja.

The delegation had also visited the minister to seek the country’s partnership. 

Baldwim, stating the EU’s commitment to making gas projects a reality, expressed optimism for a sustainable partnership for energy transition in Nigeria.

“I am very pleased to be working with you in a big way. Private sector investment is guaranteed; the more the security situation can be improved in the Niger Delta Region, the more investment we will see,” he said.

On his part, Sylva said the development would hasten the desire of the EU to guarantee alternative gas to Russia’s.

He described the assistance which covered security, technology development, financing, and private sector investment as worthwhile because, finally, it would enable Nigeria to be on the same page with the rest of the world.

Sylva added that in years to come, fossil fuel would be very relevant while gas would be used as a transition fuel.

“We have always said that we are committed to gas as a transition fuel and today we are speaking the same language with the EU,” Sylva said. 

“We are discussing with the EU on how to collaborate on developing technology and other support they can give Nigeria.

“They are responsible for the policy that will drive the investment.” 

Sylva said the delegation visited the Niger Delta region to assess the security situation and as such, marked it as another area of cooperation.

He added that part of the solution itself also required technology.

The minister said the region would be secured for oil and gas investments to thrive, while the production quota would be shored up.

As part of the intervention to curb the insecurity in the region, Sylva said there was a four-legged collaboration which involved the government, security agents, oil companies, and communities.

Some of the country’s ongoing gas projects include AKK Gas Project and Trans Sahara Gas Pipelines (TSGP) project.

In June, President Muhammadu Buhari had called on the UK and the EU to invest in the Nigerian-Moroccan Gas Pipeline.