Nigeria will be able to send more Liquefied Natural Gas (LNG) to Europe by next winter, Minister of State , Petroleum, Timipre Sylva said on Wednesday at the Gastech conference in Milan, Italy.
Winter 2022 in Northern Hemisphere will begin on 21 December, and end on Monday, 20 March 2023 in Central European Time.
As Europe seeks alternatives to dwindling supplies of Russian gas, the minister said that security issues are delaying deliveries of more gas at the moment but Nigeria will build a pipeline Nigerian gas through Algeria to Europe.
It’s unclear how Nigeria intends to achieve the feat. Despite its intention to raise supply , Nigeria has been unable to do so as a result of declining funding and lack of infrastructure.
Several delegations including the one led by the Deputy Director General, European Union Energy Platform Task Force, Mr Mathew Baldwin, have visited Nigeria in recent times to request more supply to Europe.
But Nigeria will soon take the final decision over the investment to build the infrastructure, the minister said in Italy, adding that the project is likely to cost more than $10 billion.
The Nigerian and Algerian state oil companies will be involved, Sylva said, adding that other private investors have also shown interest, according to a Reuters report. Italian energy group Eni may also be involved in the project, he said without elaborating.
“Everybody is welcome,” he added.