FG Calls for Increased Investments in the Gas Sector to Cope with EU Delivery Requests

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Minister of state for petroleum resources, Chief Timipre Sylva, called for increased investments in the nation’s oil and gas industry to boost gas development and supply as European countries turn to Nigeria for their gas supply needs.

Sylva made the call during a recent visit of the delegation from the Kingdom of Belgium led by its ambassador to Nigeria, Mr. Daniel Dargent. Welcoming the Belgian delegation, Sylva said that with Nigeria’s abundant natural gas resources, Nigeria is well positioned to fill the current gas supply gap being experienced in parts of Europe.

He, however, said that there was need to increase investments in gas development in the country to fully achieve the aspiration of boosting gas exports.

The minister also urged investors to explore the opportunities in the nation’s downstream sector, especially in the areas of gas plants and pipelines to support the promotion of Federal government’s plan to introduce auto-gas.

Speaking earlier on the purpose of the visit, Dargent said the Kingdom of Belgium was interested in importing more gas from Nigeria and would like to know what challenges the country had in achieving that.

Dargent said he would be providing for the minister a list of potential investors by June 2022 and to follow up with discussions in October when the group of Belgian investors were expected to be on ground in the country.

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