News Industry

Nigeria Seeks Vitol’s Backing for $25bn Africa Gas Pipeline

Nigeria Seeks Vitol’s Backing for $25bn Africa Gas Pipeline
Wednesday, 04 June 2025 16:52

• Nigeria invites Vitol to support the Atlantic Africa Gas Pipeline project
• Government seeks both technical expertise and financial structuring
• Project spans 6,800 km, aims to deliver 30 bcm of gas annually to Europe

Global fuel trading giant Vitol plays a vital role in African hydrocarbon exports, thanks to its trading expertise, logistical network, and relationships with multinational oil firms. This expertise is now being sought by Nigeria to help realize the Atlantic Africa Gas Pipeline (AAGP) project, valued at $25 billion.

Nigeria’s Vice President, Kashim Shettima, who is promoting the initiative alongside Morocco, considers Vitol’s financial and technical support essential. Reports from the Nigerian press on Tuesday, June 3, indicated Shettima has been in discussion with leaders from Switzerland-based petroleum products and gas trading company, Vitol.

Pointing out measures implemented to promote natural gas monetization, such as the Nigeria LNG initiatives, Shettima called upon top figures at Vitol to commit to the AAGP project, aimed at fueling Europe’s energy supply among other objectives.

"I sincerely invite you to join us in making this project a success," Shettima stated. He then added, "We need your expertise more than your money," urging the company to utilize its global influence and resources. The Nigerian government wishes to leverage Vitol’s logistical expertise and international network to devise a financial and technical structure robust enough to drive the AAGP project.

Vitol appears open to considering the proposition. "Nigeria has been a close and crucial partner for Vitol," stated Jeffrey Dellapina, the group’s Chief Financial Officer, expressing a desire to "continue growing alongside it."

If realized, the involvement of companies such as Vitol could enhance the credibility of the project and pave the way for a broader commitment from other investors. Furthermore, technical studies are already well underway, with support from the Islamic Development Bank and the prioritization of the AAGP in the energy agendas of the African Union and European Union.

The United States has also expressed interest in the pipeline that aims to transport 30 billion cubic meters of gas annually to Europe, spanning 6,800 km and supplying 13 states along its route.

On the same topic
Africa Energy, now operator of South Africa's 11B/12B offshore block, is in talks with PetroSA to utilize its infrastructure. The aim is to develop...
Perseus plans to produce between 2.6 and 2.7 million ounces of gold from 2026 to 2030 About $878 million will be invested,...
Petronas to lay off 5,000 staff as part of a major restructuring for future competitiveness African operations not directly addressed, but changes...
• Nigeria’s $5 billion loan from Saudi Aramco stalls due to falling oil prices• Deal tied to 100,000 barrels per day faces risk amid production...
Most Read
01

BCEAO lowers main rate from 3.50% to 3.25% effective June 16, 2025 Inflation eased to 2.3% in...

BCEAO Cuts Key Rate to 3.25% to Stimulate Regional Growth
02

• Funding resumes after 2023 suspension tied to Uganda’s anti-LGBT legislation• Three new projects a...

World Bank Resumes Support to Uganda Despite LGBT Law Concerns
03

Wingu Africa raised $60 million from South Africa’s Rand Merchant Bank Funds will expand...

Wingu Africa Secures $60mln to Boost Digital Infrastructure
04

• Ghana aims to secure LBMA license to boost refinery access to global markets• Reforms include gold...

Ghana Launches Reforms to Pursue LBMA License for Gold Refineries
05

AfDB raised $3 billion in a two-part bond issuance in U.S. dollars. The deal included th...

AfDB Raises First-Ever 10-Year Global Dollar Bond
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.