Nigeria has stepped up discussions on a proposed transcontinental gas pipeline project aimed at supplying natural gas to European markets, as key stakeholders met in London to advance the initiative.

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, joined industry players in the United Kingdom for talks on upstream gas development and pipeline infrastructure investments under the proposed “Renewed Hope Pipeline”.

The project is conceived as a major energy corridor to transport Nigerian gas to Europe, bolster long-term energy security and unlock large-scale investments across Nigeria’s gas value chain.

According to details of the proposal, the pipeline is expected to transport about 30 billion cubic metres of gas annually from reserves in southern Nigeria, through Chad and Libya, and onward via a subsea connection to Sicily, where it would feed into the European market.

In a statement issued by Temitope Onifade, a member of a diaspora-backed consortium supporting foreign direct investment under the Renewed Hope Agenda, the Netoil consortium behind the project said it anticipates investments exceeding $20bn across upstream and midstream segments, subject to regulatory, technical, commercial and financing agreements.

Speaking during the London engagement, which coincided with President Bola Ahmed Tinubu’s state visit to the UK, Ekpo described the talks as “timely and historic”.

“Nigeria is set for investors to take advantage of its natural gas. The Petroleum Industry Act and the Executive orders by Mr President for the petroleum sector has set a conducive environment to attract investments to the sector. We must be intentional in the utilisation of our resources, so long as we have these reserves, we must take advantage of them and better the lives of those in the region,” he said.

The minister added that with the right financial backing, the project faces no significant barriers to implementation.

Also speaking, Olalekan Ogunleye, Executive Vice President, Gas, Power and New Energies at NNPC Ltd., highlighted Nigeria’s strategic push to deepen gas investments.

“The NNPCL as the leading energy company in Africa has launched its Gas Master Plan geared to deliver and exceed Mr President’s gas development targets and galvanise investments across the value chain.

“NNPC’s strategy is firmly aligned with the Federal Government’s agenda, and we are focused on creating investable opportunities, removing bottlenecks, and partnering with credible investors. Simply put, NNPCL is ready for business,” he said.

Roger Tamraz, Founder and Chief Executive Officer of Netoil Inc. and architect of the pipeline, described the project as both commercially viable and strategically critical.

“The proposed Pipeline will create significant long-term revenue and benefits for future generations of Nigerians, while strengthening energy security for Europe.

“On a macro level, Europe’s Achilles heel is energy. The only sustainable long-term solution is Africa and the Middle East where the gas reserves exist and where the infrastructure needs to be built. 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,” he stated.

Alain Bolo, Chief Executive Officer of Unicorn and a member of the consortium, pointed to the commercial opportunities tied to the project.

“We have the financial capacity to support the upstream development of gas, reducing the flaring of gas and delivering gas to the pipeline. What is good for Nigeria in the gas sector today can be a significant part of the solution for Europe.

“There is a wonderful opportunity for Nigeria to capture a huge market share. Global LNG flows have largely been redirected to Asia, and this project positions Nigeria to fill that void for Europe on a long-term, commercially viable basis,” he said.

Project Director of Netoil Inc., Prince Henry Erimodafe, described the initiative as mutually beneficial.

“This is a strategic win-win. For Nigeria and the transit countries, it can unlock major investment, job creation, and long-term value from resources that are currently underutilised. For Europe, it establishes a new, reliable corridor of supply that supports energy security and industrial competitiveness for decades.

“The proposed gas Pipeline is not a short-term fix — it is long-life infrastructure that converts Nigeria’s vast gas reserves into dependable energy for Europe, underpinned by serious capital and a structured delivery process,” he said.

Richard Beresford, Chairman of McCarthy Denning, legal advisers to London Nigeria Energy Ltd., welcomed the development.

“We are delighted this announcement is being advanced in London and that UK-based companies are participating in the proposed gas Pipeline project,” he said.

The proposed pipeline, still at an early stage, is being developed by a consortium of industry participants and will be subject to technical, regulatory and financial approvals before final agreements are reached. (The Guardian)

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