Vice-President Kashim Shettima, has said Nigeria is actively seeking $25 billion investment to supply gas to Europe, through the Nigeria-Morocco gas pipeline project.
Speaking at the presidential villa during a meeting with a Vitol Group delegation, an independent commodity trader, Shettima stated that the project is an expensive one that requires about the aforementioned amount.
He said the nation needs Vitol’s technical expertise to successfully finalise the project.
“We need you more for your technical expertise than for your money. Gas supply stability counts, that is why we are exploring the option of an undersea gas pipeline,” said the vice-president.
“it will be a completely transparent management structure”, urging Vitol to “come on board with this project”.
Shettima described Nigeria’s gas sector as a beacon of stability and transparency amid global uncertainty.
“I will urge you to key into our nation’s energy transition programme. I want you to utilise your dominance in the Liquefied Natural Gas (LNG) and Associated Petroleum Gas (APG) sub-sectors,” he said.
H e said the world is changing and “ours is actually a gas and not an oil economy”.
“We have the eighth-largest gas reserve in the world. We really want to harness the potential in the gas sector fundamentally because of the stability and transparency in that arena,” he said.
“The Nigeria Liquefied Natural Gas Limited (NLNG) has been largely insulated from government interference.
“What we are getting from the NLNG is so predictable. This is why we are seriously exploring the option of taking our gas to Europe.”
