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Nigeria is preparing to export 30 billion cubic metres (Bcm) of natural gas annually to Europe through a proposed $20 billion pipeline corridor spanning Nigeria, Chad, Libya, and Sicily, in a move designed to unlock long-dormant energy wealth and tackle Europe’s growing energy insecurity.
The Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, led a delegation of Nigerian officials and industry stakeholders to London last week to advance discussions on the initiative, which is being developed by the Netoil consortium.
The pipeline is part of a strategic, investment-led effort to accelerate gas monetisation, mobilize large-scale upstream investment, and create durable economic value for Nigeria and transit countries.
“Nigeria is set for investors to take advantage of its natural gas. With the Petroleum Industry Act and the Executive orders by Mr. President, the petroleum sector has a conducive environment to attract investments.”
“We must be intentional in the utilisation of our resources… and better the lives of those in the region,” Ekpo said during the engagement, coinciding with President Bola Ahmed Tinubu’s state visit to the United Kingdom.
30Bcm of Gas, Too Little Domestic Use: Nigeria’s Growth Paradox
Nigeria, Africa’s largest holder of natural gas reserves, faces a paradox: vast gas resources remain underutilised domestically, with persistent flaring and limited industrial consumption, even as the country ranks among the world’s top LNG exporters
Experts argue that domestic infrastructure bottlenecks, weak downstream markets, and regulatory hurdles have constrained the sector’s growth.
NNPC Ltd’s Executive Vice President, Gas, Power & New Energies, Olalekan Ogunleye, emphasised the strategic alignment between government policy and investment: “NNPC’s strategy is firmly aligned with the Federal Government’s agenda… we are focused on creating investable opportunities, removing bottlenecks, and partnering with credible investors. Simply put, NNPCL is ready for business.”
The Renewed Hope Gas Pipeline, designed to deliver 30 Bcm annually, is expected to attract more than $20 billion in combined upstream and midstream investment.
According to Roger Tamraz, CEO of Netoil Inc., “Buyers are ready to commit to 20-year contracts. The technology is proven and financing solutions are available. What remains is the securing of rights-of-way, and we are building.”
For Nigeria, the project promises a dual payoff: monetising currently underutilised gas reserves while addressing Europe’s long-term energy needs.
As Prince Henry Erimodafe, Project Director of Netoil, put it: “This is a strategic win-win… it converts Nigeria’s vast gas reserves into dependable energy for Europe, underpinned by serious capital and a structured delivery process.”
