Gazprom and Total Interested in Trans-Sahara Gas Project

Speaking at the just concluded Nigerian Oil and Gas (NOG) conference in Abuja, Managing Director of Total Exploration and Production in Nigeria, Guy Maurice hinted on the company's interest in the project, The Guardian reported.

According to the Managing Director of Gazprom in Nigeria, Vladimir Ilyanin, his company was interested in utilising the opportunity provided by the project but stressed that gas prices needed to be increased for the project to be commercially viable.

He noted that Gazprom planned to invest about $2.5 billion in infrastructure for the development and production of Nigerian gas, adding that the gas giant hoped to conclude a multibillion joint venture on Nigerian oil and gas exploration and production by the end of March.

Besides, he said that Gazprom was having a Joint working group discussions with NNPC's technical specialists and top government representatives.

Gazprom had early this year indicated interest to invest at least $2.5 billion in the development and production of natural gas reserves in the country. The company is seventh largest gas producer in the world.

Nigerian oil officials said that foreign oil companies must first help build the country's gas infrastructure before it could begin to make plans to export the natural resource.

The pipelines Gazprom hopes to build in Nigeria could eventually be used to ship gas through the trans-Saharan gas pipeline, a project aimed at sending Nigerian gas through Niger and Algeria to the Mediterranean.

Author: Ksenia Kochneva