FG targets $25bn undersea gas pipeline to Europe, Seeks Global investment support
ABUJA – Vice-President Kashim Shettima has announced Nigeria’s commitment to a $25 billion undersea gas pipeline project that will supply natural gas to Europe via the West African coast, reinforcing the country’s ambition to become a major global energy player.
Shettima made the disclosure during a meeting with senior executives of Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa in Abuja.
The Nigeria-Morocco Gas Pipeline, once completed, will transport natural gas from Nigeria through several West African countries to Morocco and eventually into Europe, offering a strategic alternative for the continent's energy needs amid global supply disruptions.
“This initiative is not just about infrastructure; it is a matter of leadership,” Shettima said. “President Tinubu brings a unique combination of energy and financial expertise, having come from that ecosystem. In the last 25 years, no administration has taken such bold steps—ending the fuel subsidy, unifying the exchange rate, and launching sweeping tax reforms.”
He called on investors to pay close attention to Nigeria’s new economic direction. “This is where the action is. Invest in Nigeria,” he said.
Shettima presented Nigeria’s gas sector as a dependable and transparent investment environment, well-placed to meet shifting global energy demands. He urged Vitol to take part in Nigeria’s energy transition plans, especially in the areas of Liquefied Natural Gas (LNG) and Associated Petroleum Gas.
“The world is undergoing a transformation. Nigeria is fundamentally a gas economy, not an oil one. We hold the eighth-largest proven gas reserves globally,” Shettima said.
He highlighted the reliability of revenue from Nigeria LNG (NLNG), noting that the venture operates with limited government interference, which adds to its credibility.
“Our earnings from NLNG are consistent and dependable. This underpins our decision to pursue gas exports to Europe,” he said.
While acknowledging the scale and complexity of the proposed pipeline, Shettima clarified that Nigeria is looking for more than financial backing.
“The undersea pipeline is a technically intensive project estimated at $25 billion. What we need most is your expertise, not just your money. Reliable gas supply is essential, and the undersea route offers the most secure option,” he explained.
He encouraged Vitol to lend its global expertise and network to support Nigeria’s infrastructure development goals. “We appeal to you to bring your international clout and technical capacity to this project. It will be managed with full transparency, and we sincerely invite your participation in making it a reality,” Shettima added.
In response, Vitol Group’s Chief Financial Officer, Jeffrey Dellapina, reaffirmed the company’s strong relationship with Nigeria.
“Nigeria has long been a key partner for Vitol. We have made significant contributions across downstream operations, financing, trading, and collaboration with various levels of government,” Dellapina said.
He confirmed the company’s continued interest in the country. “We remain fully committed to Nigeria and are looking forward to growing with it,” he said.
Vitol spokesman Murtala Baloni also underscored the company’s enduring ties with Nigerian institutions and stakeholders.
“We support the government’s initiatives where we can, including investing capital where it is most needed,” Baloni said.
He pointed to Vitol’s involvement in Project Gazelle, through which the company provided $300 million to NNPC Limited during the COVID-19 pandemic to help sustain energy operations.
Also in attendance at the meeting was Thomas de Montulé, Vitol Group’s Country Manager, further underlining the company’s serious engagement with Nigeria’s long-term energy strategy.