Russia Wants to Build $20 Billion Nigerian Gas Pipeline
Nigerian Minister of State for Petroleum Resources confirms
The Nigerian Minister of State for Petroleum Resources, Chief Timipre Sylva has said that Russia was interested in financing a $20 billion dollar gas pipeline to Morocco which will then connect the pipeline to western Europe thereby bringing Nigerian gas to the European market.
He confirmed the Russian interest in financing the project while briefing reporters in Abuja Monday. “The Russians were with me in the office last week. They are very desirous to invest in this project and there are lots of other people who are also desirous to invest in the project, this is a pipeline that is going to take our gas all through a lot of countries in Africa and also, all the way to the edge of the African continent where we can have access to the European market as well.”
In December 2016, Nigeria and Morocco signed a bi-lateral agreement to build a 5,660 gas pipeline connecting the two countries and it is also to connect other African countries in the sub region. The pipeline will both be on shore and off shore.
Sylva hopes the the multi billion dollar gas pipeline project will take off before President Muhammadu Buhari leaves office on May 29 2023. According to Worldometer. “Nigeria holds 187 trillion cubic feet (Tcf) of proven gas reserves as of 2017, ranking 9th in the world and accounting for about 3% of the world’s total natural gas reserves of 6,923 Tcf. Nigeria has proven reserves equivalent to 306.3 times its annual consumption.”
Despite the rich gas deposits Nigeria still does not have stable electricity after almost 62 years after independence.
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