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 to serve as an alternative energy source for Europe.

He made the call in the aftermath of Russia’s war in Ukraine, which posed a threat and disruption of gas supplies from Russia to all of Europe.

Minister of State for Petroleum Resources Chief Timipre Sylva revealed this during a meeting with US Secretary of Energy Jennifer Granholm on the sidelines of the current CERA week in Houston, Texas.

Sylva said collaboration between the United States and Nigeria in this area would be of immense benefit to both countries as well as the world.

He was quoted in a statement released by his press aide, Horatius Egua, as saying: “It is in the interest of the global community that there is an alternative supply of gas to Europe.

“The challenge for us to achieve this feat has been the lack of infrastructure and we need funding to develop infrastructure for our gas and we believe the United States can provide that funding.”

The minister told Granholm that Nigeria had abundant natural gas resources that could meet European gas demand, but stressed that the problem was access to funds.

He said that as part of efforts to increase gas supply on the African continent, Nigeria had embarked on the construction of a 600km Ajaokuta-Kaduna-Kano gas pipeline designed to deliver gas to the African continent. Europe via North Africa.

Sylva therefore called on the United States to provide the necessary infrastructure funding for the exploitation of Nigeria’s enormous natural gas resources.

“We have access to gas, but access to finance has been the problem. Our wish is to be able to transport gas from Nigeria via Algeria to Europe,” the minister said.

He added, “We have already started the AKK gas pipeline project and if we have the necessary funding, we can complete this project in two years. Nigeria has over 206 trillion standard cubic feet of natural gas reserves and unproven reserves of 600TCF.

“We believe that if we target the exploitation of natural gas in Nigeria, we can obtain up to 600TCF. We need the financing to develop our gas, and the United States can provide that financing. »

Sylva said the crisis between Russia and Ukraine was a wake-up call to have alternative gas sources to Europe, adding that “in situations like this it is always good to have alternatives. It’s time to say let’s look to the future.

For her part, Granholm said the United States was ready to cooperate with Nigeria to develop Nigeria’s renewable energy sector, as she said her government was not against the development of gas or other sources of electricity. ‘energy.

She said, “Investors are interested in financing renewable energy in Nigeria, but they want to know about possible areas of interest. We need to find a structured way to access the fund.

During a previous meeting with the US Under-Secretary of State, Harry Karman, Sylva expressed Nigeria’s desire to develop the various renewable energy sources such as wind, solar and hydrogen.

Karman assured the Minister of the US government’s willingness to help Nigeria find sustainable energy sources for the millions of Nigerians without access to electricity.

“Wherever we can be supportive, we will. We will be more than happy to help you. It is important that we look at countries and what energy mix would be good for them,” he said.

Karman added, “It has to be a mix for Nigeria and we have to do a study to determine which renewable energy source will be good for the country.”

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Mary I. Bruner