Nigeria is moving forward with plans for a $20 billion transnational gas pipeline that will run through Chad and Libya to Sicily, aiming to supply 30 billion cubic metres (Bcm) of natural gas annually to Europe.
The project is designed to unlock the country’s long-underutilised gas reserves while helping address Europe’s growing energy security concerns.
According to Business Insider Africa, the Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, recently led a delegation of Nigerian government officials and industry stakeholders to London to advance talks on the initiative, which is being developed by the Netoil consortium. The engagement coincided with a state visit to the United Kingdom by President Bola Ahmed Tinubu.
The pipeline forms part of a broader investment-driven strategy to accelerate gas monetisation, attract large-scale upstream investment, and generate long-term economic value for both Nigeria and transit countries.
Speaking during the discussions, Ekpo said, “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.”
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Despite holding Africa’s largest natural gas reserves, Nigeria continues to face a major imbalance, with significant volumes of gas underutilised domestically.
The country still struggles with persistent gas flaring and limited industrial consumption, even as it ranks among the world’s leading LNG exporters.
Industry experts point to infrastructure gaps, underdeveloped downstream markets, and regulatory challenges as key constraints holding back growth.
NNPC Ltd’s Executive Vice President for Gas, Power & New Energies, Olalekan Ogunleye, highlighted the alignment between policy and investment efforts, stating, “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 is expected to deliver 30 Bcm annually and could attract more than $20 billion in combined upstream and midstream investments.
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 represents a dual opportunity: converting underutilised gas resources into economic value while supplying reliable energy to Europe.
As Prince Henry Erimodafe, Project Director of Netoil, explained, “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.”
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Image Credit: Business Insider Africa
