“We Have Access To Gas, But Access To Funding Is Our Problem”, Buhari Govt begs US for Funds

The Nigerian Government has called on the United state of America for funds support to develop natural gas resources.

The Minister of State Petroleum Resources, Chief Timipre Sylva on Thursday disclosed this while In a meeting with the US Secretary of Energy, Jennifer Granholm, on the side-lines of the ongoing CERA Week, in Houston Texas.

The minister had also said this process will also serve as an alternative source of energy for European countries.

 Sylva the minister mentioned that the collaboration between the US and Nigeria in this area would be of good benefit to both countries as well as the entire globe.

According to the statement disclosed by his media aide, Horatius Egua, says, “It is in the interest of the global community that there is alternative supply of gas to Europe.

“The challenge for us to achieve this feat has been lack of infrastructure and we need funding to develop infrastructure for our gas and we believe that the US can provide that funding.”

The minister told US secretary, Granholm that Nigeria had abundant natural gas resources that could meet European gas demands, but explained that the problem had been access to funds.

Sylva cry out to the United state to therefore provide the needed funding for infrastructure for the exploitation of the huge natural gas resources in Nigeria.

“We have access to gas but access to funding has been the problem. Our desire is to be able to take gas from Nigeria through Algeria to Europe,” the minister stated.

“We have already kick-started the AKK gas pipeline project and if we have the required funding we can complete that project in two years. Nigeria has over 206 trillion standard cubic feet of natural gas reserves and unproven reserves of 600TCF.

“We believe that if we target exploitation of natural gas in Nigeria, we will be able to get up to 600TCF. We need to have the needed funding to develop our gas and the US can provide us this funding.” the minister said