FG seeks US funding for gas supply to Europe amid Russia boycott
The Federal Government on Thursday called on the United States Government to support Nigeria with funds to develop Nigeria’s natural gas resources so as to serve as alternative source of energy for Europe.
It made the call on the heels of the war by Russia in Ukraine, which posed a threat to the destruction of gas supplies from Russia to the entire Europe.
The Minister of State Petroleum Resources, Chief Timipre Sylva, disclosed this while speaking at a meeting with the US Secretary of Energy, Jennifer Granholm, on the sidelines of the ongoing CERA Week in Houston Texas.
Sylva said the collaboration between US and Nigeria in this area would be immense benefit to the both countries as well as the entire globe.
The Minister told Granholm that Nigeria had abundant natural gas resources that could meet European gas demands but stressed that the problem had been access to funds.
He stated that as part of efforts to boost gas supplies across the African continent. Nigeria had embarked on the construction of a 600km Ajaokuta-Kaduna-Kano gas pipeline, designed to take gas to Europe via North Africa.
Sylva, therefore called on the US to provide the needed funding for infrastructure for the exploitation of the huge natural gas resources in Nigeria.
“We have access to gas but access to funding has been the problem. Our desire is to be able to take gas from Nigeria through Algeria to Europe’, the Minister stated.
He added, “We have already kick started the AKK gas pipeline project and if we have the required funding, we can complete that project in two years. Nigeria has over 206 trillion standard cubic feet of natural gas reserves and unproven reserves of 600TCF.
Sylva said the crisis between Russia and Ukraine was a wake up call to have alternative resources of gas to Europe, adding that “in situations like this, it is always good to have alternatives. It is time to say lets look forward”.
On her part, Granholm said the US was ready to cooperate with Nigeria to develop Nigeria’s renewable energy sector, as she stated that her government was not against the development of gas or other sources of energy.
She said, “Investors are interested in funding renewable energy in Nigeria but they are interested in knowing possible areas of focus. We have to work out a structured way to access the fund”.
