The Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, joined key industry stakeholders in London, United Kingdom to advance discussions on the proposed upstream gas development and Gas Pipeline infrastructure investments, a transformative pipeline infrastructure initiative designed to transport Nigerian natural gas to European markets and strengthen long-term energy security.
The proposed Pipeline infrastructure is being developed as a strategic, investment-led corridor that supports large-scale gas monetisation, accelerates investment across Nigeria’s gas valuchain, and lays the foundations for durable national prosperity. The concept is to transport 30 billion cubic metres of gas annually from the huge reserves in the south of Nigeria, north through Chad and Libya, and finally subsea to Sicily, where the gas will enter the European market.
The Netoil consortium advancing the initiative expects that the project will mobilise indicative investment exceeding US$20 billion across both the upstream gas development and midstream pipeline infrastructure components, subject to technical, commercial, regulatory, and financing work streams and the execution of definitive agreement
Key Statements
Speaking at the London engagement, which coincided with H.E President Bola Ahmed Tinubu’s State Visit to the United Kingdom, the Rt. Hon Ekperikpe Ekpo, whose Ministry has lauded the initiative, described the discussions as timely and historic
“Nigeria is set for investors to take advantage of its natural gas. With the Petroleum Industry Act and the Executive orders by Mr. President for the petroleum sector has set a conduciveenvironment to attract investments to the sector. We must be intentnal in the utilisation oour resources, so long as we have these reserves, we must take advantage of them and betterthe lives of those in the region.”
— Rt. Hon. Ekperikpe Ekpo, Honourable Minister of State for Petroleum Resources (Gas),
Federal Republic of Nigeria
The Minister further noted that, with appropriate financial backing in place, he sees noobstacle to the project coming to fruition
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-Mr Olalekan Ogunleye, Executive Vice President, Gas, Power & New Energies, NNPC Lt., underscored Nigeria’s policy and strategic alignment for accelerating gas investment
“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 galvanize investments across the value chain. NNPC’s strategy is firmly aligned with the Federal Goernment’s agenda, and we are focused on creating investable opportunities, removing bottlenecks, apartnering with credible investors. Simply put, NNPCL is ready for business.”
— Olalekan Ogunleye, Executive Vice President, Gas, Power & New Energies, NNPC Lt
Mr. Roger Tamraz, Founder and Chief Executive Offic er of Neto il I and the pipeline architect behind the project, drew on his long-standing experience in major internationalpipeline development to frame the Renewed Hope Pipeline as both commercially sound and strategically essential
“The proposed Pipeline will create significant lon-term revenue and benefits for futuregenerations of Nigerians, while strengthening energy security for Europe.
“On a macro level, Europe’s Achilles heel is energy. The only sustainable long-term solution isAfrica and the Middle Eastwhere 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 righ-of-way—and we are building.”
— Roger Tamraz, Founder & CEO, Netoil Inc.
Mr Alain Bolo, Chief Executive Officer of Unic and a member of the consortium formed toundertake the project, spoke to the upstream investment dimension and commercial rationale
“We have the financial capacity to support the upstream development of gas, reducing theflaring of gas and delivering gas to the pipeline. What is good for Nigeria in the gas sectortoday can be a significant part of the solution for Europe
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“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 vofor Europe on a long-term, commercially viable basis.”
— Alain Bolo, CEO, Unicorn (Consortium Member
Prince Henry Erimodafe, Project Director, Netoil Inc., emphasised the project’s strategic value for both Nigeria and Europe:
“This is a strategic win-win. For Nigeria and the transit countries, it can unlock major investment, job creation, and lon-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 sho-term fi—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.”
— Prince Henry Erimodafe, Project Director, Netoil Inc.
Mr Richard Beresford, Chairman of McCarthy Denning (Legal Advisors to London Nigeria Energy Ltd.), welcomed the progress and the breadth of participatio
“We are delighted this announcement is being advanced in London and that UK-based companies are participating in the proposed gas Pipeline project
About the Proposed Gas Pipeline infrastructure.
The Gas Pipeline infrastructure is a proposed cross-border gas corridor designed to transport natural gas from Nigeria through Chad and Libya to Italy, with onward access to the wider European market. The initiativ e i s a t a n earl y developmen t stag e an d i being advanced through a consortium of industry participants, subject to technical, commercial, regulatoryand financing workstreams and the execution of definitive agreeme
