Nigeria Seeks $25 Billion Investment for Undersea Gas Pipeline to Europe
Nigeria is initiating a $25 billion undersea gas pipeline project to supply gas to Europe, enhancing its energy sector investment appeal. The Nigeria-Morocco Gas Pipeline aims to transport gas from Nigeria to Morocco and onward, supported by the Vitol Group's commitment to the project.
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Nigeria is advancing a $25 billion undersea gas pipeline project, the Nigeria-Morocco Gas Pipeline, to transport gas to Europe. This initiative was discussed during a meeting between Vice President Kashim Shettima and representatives from the Vitol Group.
The project seeks to leverage Nigeria's eighth-largest gas reserves and aims to ensure a stable gas supply through minimal government interference in the Nigeria Liquefied Natural Gas Limited (NLNG). Shettima emphasized the country's focus on energy sector growth and stability, inviting global investors to contribute technical expertise. Vitol Group has reaffirmed its long-term commitment to Nigeria, having previously invested in various sectors including a $300 million contribution during the COVID-19 pandemic.
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