Gas now weapon of war in Europe, cash cow for Africa –Sylva –

Gas now weapon of war in Europe, cash cow for Africa –Sylva – The Sun Nigeria

From Uche Usim, Abuja

Minister of State, Petroleum Resources, Mr Timipre Sylva, has charged hydrocarbon-rich African nations to urgently harness their huge gas reserves to close the widening energy gulf created by the lingering Russia-Ukraine hostilities, where gas is being used as a weapon of war.

Sylva gave the admonition in Abuja on Monday at a Ministerial meeting on the reactivation of the Trans-Saharan Gas Pipeline project (TSGP), involving Nigeria, Niger Republic and Algeria. 

Are you a Man 40 yrs and above? Do not miss the Vital Information, it goes off in 2 days! CLICH HERE to READ .

According to him, the project remains important to Nigerians because it would be a huge revenue generator and clean energy source, while symbolising regional integration and an opportunity for the continent to occupy a special position in the global energy market.

He said the project needs to move quickly to realisation, having been on the drawing board for quite a while.

He said: “With what is happening in the global energy market, we need to take our gas to Europe. Gas is now a weapon of war between Ukraine and Russia.

READ ALSO:  Clem Ohameze gets N1.5M gift from pastor who sponsored his surgery

Let’s not waste time. We need to fasttrack it. It was meant to start from South of Nigeria to end of Nigeria, which is the AKK pipeline already under construction. 

“Then from Nigeria to Algeria through Niger Republic. We as Africans can show the world that we can come together to boost regional integration which the world wants to see. Funders of this project have shown interest in investing in it. We can grow our reserves up to 600 TCF in Nigeria. 

“Algeria is also a gas nation, likewise Niger. We can harness these resources and fasttrack the project as quickly as possible”.

Also speaking, the Algerian Minister of Energy and Mines, Mr Mohamed Arkab hailed an earlier meeting held in Niamey in February where a declaration was signed by the three parties and an implementation roadmap agreed on.

“This is indeed a tangible sign of willingness of all of us to move further on the TSGP project, with the aim of launching the update on its feasibility studies.

READ ALSO:  Fulham Keen To Sign Arsenal Star, Balogun

“TSGP will have a significant and positive impact on the socio-economic development of our countries. The reactivation of the TSGP project takes place in a particular geopolitical and energy context, marked by a strong demand for gas and oil, on the one hand, and by a stagnant supply due to the drop in oil and gas investments, started since 2015, on the other hand.

In his remarks, Mahamane Sani Mahamadou, the Minister of Petroleum of the Republic of Niger recalled the Niamey meeting, where participating nations agreed to collaborate on the project. 

“I know we can realise this project especially when we see what the world expects from us. I encourage all sponsors to remain committed to this project”, he said.

Meanwhile, Minister of State, Petroleum Resources, Mr Timipre Sylva, has weighed in on the lingering scarcity of aviation fuel (Jet A1) and diesel in Nigeria, describing it as a global challenge, not peculiar to Nigeria alone.

READ ALSO:  Lagos by-elections: APC reacts as PDP alleges fraud

He said the Federal Government was working on ameliorating the situation that has forced many businesses to shut down.

Speaking on the sidelines of the Ministerial meeting on the reactivation of the Trans-Saharan Gas Pipeline project (TSGP), in Abuja on Monday, the Minister said both aviation fuel and diesel were totally deregulated products, which removes price fixing from government’s control.

Sylva added that the rapidly-rising prices of both commodities has further been worsened by the ongoing war between Ukraine and Russia.

Partner with me, let’s get you making N500K to N500K a month! Skills open the doors to financial opportunities to learn it .

News Source


Tech Solutions with THE DGIT:

Build Your Websites and Mobile Apps

%d bloggers like this: