Recall that the visit of the EU delegation to the minister was the second in four months, and that it also met other key ministries with relevant roles to play in ensuring energy security.
The minister said that this development would accelerate the EU’s desire to guarantee an alternative gas to that of Russia.
He called the assistance that covered security, technology development, financing and private sector investment valuable as it had finally brought Nigeria on the same page as the rest of the world.
Sylva, who criticized the haste with which the EU and the western nation invested in fossil fuels, said that in the years to come, fossil fuels would be very relevant while gas would be used as a transition fuel.
He underlined the need for the EU to appeal to its financial institutions to be willing to relax the strict rules and remove the bottlenecks hindering lending in order to allow the provision of funds within the framework of a favorable agreement.
“We have always said that we are committed to gas as a transition fuel and today we speak the same language with the EU.
“We are discussing with the EU how to collaborate on the development of technology and other forms of support it can provide to Nigeria.
“They are responsible for the policy that will drive the investment,” he said.
Regarding security, he said that was another area of cooperation as they traveled to the Niger Delta region to see for themselves what the security situation was, adding that some of the solution itself also required technology.
He said the region would be secure for oil and gas investments to continue to flourish while production quotas were tightened.
As part of the response to tackle insecurity in the region, he said there was a four-legged collaboration that involved the government, security officers, oil companies and communities.
Baldwim had earlier reaffirmed the EU’s commitment to bringing the gas project to fruition and expressed his optimism for a lasting partnership for Nigeria’s energy transition.
“I am very happy to work with you in large measure, private sector investment is guaranteed; the more the security situation can be improved in the Niger Delta region, the more investments we will see,” he said.
The ongoing AKK Gas Project and the Trans Sahara Gas Pipelines (TSGP) project will present a huge opportunity for Nigeria and others to tap into European markets.