Renewed Hope Pipeline: Nigeria Advances Landmark Gas Corridor Discussions In London

The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, joined key industry stakeholders in London, United Kingdom to advance discussions on the proposed upstream gas development and Gas Pipeline infrastructure investments, the transformative pipeline infrastructure initiative designed to transport Nigerian natural gas to European markets and strengthen long-term energy security. 

The proposed pipeline infrastructure is being developed as a strategic, investment-led corridor that supports large-scale gas monetisation, accelerates investments across Nigeria’s gas value chain, and lays foundations for durable national prosperity.

The concept is to transport 30 billion cubic metres of gas annually from the huge reserves in the south of Nigeria, north through Chad and Libya, and finally sub-sea to Sicily, where the gas will enter the European market.

In a statement issued by Mr. Temitope Onifade, who is part of the consortium of Nigeria in the Diaspora bringing Foreign Direct Investments on the Renewed Hope Agenda, the Netoil consortium advancing the initiative expects that the project will mobilise indicative investment exceeding US$20 billion across both the upstream gas development and midstream pipeline infrastructure components, subject to technical, commercial, regulatory, and financing work streams and the execution of definitive agreements.

Speaking at the London engagement, which coincided with President Bola Ahmed Tinubu’s state visit to the United Kingdom, Ekperikpe Ekpo, whose Ministry has lauded the initiative, described the discussions as timely and historic.

“Nigeria is set for investors to take advantage of its natural gas. The Petroleum Industry Act and the Executive Orders by Mr. President for the petroleum sector has set a conducive environment to attract investments to the sector. We must be intentional in the utilisation of our resources, so long as we have these reserves, we must take advantage of them and better the lives of those in the region,” he said.

The Minister further noted that, with appropriate financial backing in place, he sees no obstacle to the project coming to fruition.

Mr. Olalekan Ogunleye, Executive Vice President, Gas, Power & New Energies, NNPC Ltd., underscored Nigeria’s policy and strategic alignment for accelerating gas investment.

According to him, the NNPCL as the leading energy company in Africa has launched its Gas Master Plan geared to deliver and exceed Mr Presidents gas development targets and galvanize investments across the value chain.

“NNPCs strategy is firmly aligned with the Federal Governments agenda, and we are focused on creating investable opportunities, removing bottlenecks, and partnering with credible investors. Simply put, NNPCL is ready for business,” he said.

Mr. Roger Tamraz, Founder and Chief Executive Officer of Netoil Inc. and the pipeline architect behind the project, drew on his long-standing experience in major international pipeline development to frame the Renewed Hope Pipeline as both commercially sound and strategically

“The proposed Pipeline will create significant long-term revenue and benefits for future generations of Nigerians, while strengthening energy security for Europe.

On a macro level, Europe’s Achilles heel is energy. The only sustainable long-term solution is Africa and the Middle East where the gas reserves exist and where the infrastructure needs to be built. Buyers are ready to commit to 20-year contracts. The technology is proven and financing solutions are available. What remains is the securing of rights-of-way – and we are building,” he stated.

Mr. Alain Bolo, Chief Executive Officer of Unicorn and a member of the consortium formed to undertake the project, spoke to the upstream investment dimension and commercial rationale.

He said: “We have the financial capacity to support the upstream development of gas, reducing the flaring of gas and delivering gas to the pipeline. What is good for Nigeria in the gas sector today can be a significant part of the solution for Europe.

“There is a wonderful opportunity for Nigeria to capture a huge market share. Global LNG flows have largely been redirected to Asia, and this project positions Nigeria to fill that void for Europe on a long-term, commercially viable basis,” he said.

On his part, Prince Henry Erimodafe, Project Director, Netoil Inc., emphasized the projects strategic value for both Nigerian and Europe.

“This is a strategic win-win. For Nigeria and the transit countries, it can unlock major investment, job creation, and long-term value from resources that are currently underutilised. For Europe, it establishes a new, reliable corridor of supply that supports energy security and industrial competitiveness for decades. The proposed gas Pipeline is not a short-term fix – it is long-life infrastructure that converts Nigerias vast gas reserves into dependable energy for Europe, underpinned by serious capital and a structured delivery process,” he said.

Mr. Richard Beresford, Chairman of McCarthy Denning (Legal Advisors to London Nigeria Energy Ltd.), welcomed the progress and the breadth of participation.

“We are delighted this announcement is being advanced in London and that UK-based companies are participating in the proposed gas Pipeline project. The Gas Pipeline infrastructure is a proposed cross-border gas corridor designed to transport natural gas from Nigeria through Chad and Libya to Italy, with onward access to the wider European market,” he said.

The initiative is at an early development stage and is being advanced through a consortium of industry participants, subject to technical, commercial, regulatory, and financing work streams and the execution of definitive agreements.