Timipre Sylva, minister of state for petroleum resources, says Nigeria is positioning to become a major gas supplier to Europe following the global energy crisis caused by the ongoing conflict between Russia and Ukraine.
Sylva spoke on Tuesday during a panel session at the 50th anniversary of Gastech Conference 2022 in Milan, Italy.
The panel had the topic: “Just energy transition for developing nations.”
The minister maintained that funding for gas development actually at this point was a win-win for Europe and Africa.
“Today we are seeing gas being weaponised and every country will at least require some alternative supply. So, we are positioning ourselves to be an alternative supplier to Europe. We are already working with Algeria to build the Trans-Sahara Gas Pipeline that is going to take our gas all the way to Europe.
“We are also having a partnership with Morocco to extend the West Africa Gas Pipeline to Morocco and across the Mediterranean to Europe.
“We believe that Europe needs this gas and it is a win-win for all of us and it is in their interest to reduce this discriminatory investments that their banks are doing.”
Sylva said, during a recent meeting with a European delegation to Nigeria, he had advised them to provide appropriate policy framework for their banks to enable investment in oil and gas.