Russia shows interest in Nigeria’s Oil and Gas Industry

According to Timipre Sylva, Minister of State for Petroleum Resources, Nigeria and Morocco are still looking for money for a massive pipeline project that will transport Nigerian gas to North Africa and European markets.

Africa’s supplies are becoming more prominent as the European Union attempts to wean itself off Russian output following the February invasion of Ukraine.

In a contract first inked in 2016, Morocco’s King Mohammed VI and Nigerian President Muhammadu Buhari agreed on the mega-project to transport gas along the Atlantic Coast.

The pipeline, according to Sylva, will be an extension of one that has been pumping gas from southern Nigeria to Benin, Togo, and Ghana since 2010.

“We want to continue that same pipeline all the way to Morocco, down the coast,” he said.

“The Russians were with me in the office last week. They are very desirous of investing in this project, and there are a lot of other people who are also desirous of investing in the project.”

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The minister stated that no financial arrangements for the project had been reached.

“There is a lot of international interest and investors’ interest in the project,” he continued, “but we have not really identified investors that we want to go with.”

Plans for a pipeline to transport Nigeria’s gas resources to North Africa have been proposed for a long time, and Algeria has been in talks with Nigeria about a comparable pipeline across the Sahel region since 2002.

Nigeria, a member of OPEC, has the most proven gas reserves in Africa and is the seventh-largest in the world.

When Algeria, Africa’s biggest gas exporter and member of OPEC, said that it was willing to give Europe more gas, it was a big deal.

Russia’s state-owned energy company, Gazprom, says it has stopped all deliveries to Poland and Bulgaria, which could cause a regional (and even European) gas shortage.

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