The European Union hopes to import up to 30 billion cubic metre of natural gas through the proposed Trans-Saharan Gas Pipeline by 2015, in a bid to satisfy its fast growing energy needs, the European Union Energy Commissioner, Andris Piebalgs, has said.

Speaking on Monday in Brussels, Belgium, Piebalgs said this was one of the reasons why the EU was very much interested in the progress of the pipeline project.

The 4,500-kilometre (2,800-mile) pipeline would run from Nigeria’s Niger Delta through the African state of Niger to Algeria and then across the Mediterranean Sea to Spain, with possibly a branch going to Italy.
Piebalgs said that on completion, the TSGP might transport about 20 billion to 30 billion cubic metres of natural gas a year from Nigeria to Europe starting in 2015.

He said, “We have an interest in this project as a gas consumer.”
“By 2020, we’ll need about 500 billion cubic metres of imports, so it’s quite a substantial amount in our import portfolio.’’
Piebalgs said, however, that the EU had not decided to what extent it would support the new pipeline project, saying that Nigeria, Algeria and Niger first have to decide how the pipeline would be financed.
“We could encourage European financial institutions to look at this project,’’ he added.
Already, international donors, banks, potential clients and investors have been invited to a conference scheduled for Brussels to showcase the potential on the ambitious plan by a two Britain-based consultants, Penspen and IPA Energy, which recently submitted their feasibility reports for the project.

The TSGP is expected to gulp about $13bn, and is attracting more investors including India, which had expressed interest in joining the project.
Already, India has nominated its top energy official to represent the country’s participation in the project, in Brussels.
Stakeholders in the project, Nigeria, Niger and Algeria recently unveiled plans to launch a campaign to aid the project.

The 4,300-km pipeline will supply gas to African and European markets by 2015.
The pipeline, proposed under the New Partnership for Africa’s Development initiative, was initiated in year 2000, to tap gas resources in Nigeria and Algeria and transport them to consumers accessible from the pipeline.

It is believed the consultants have found the project technically and economically viable. It is expected that some of the European countries and prospective gas consumers may also invest in the multi-billion-dollar project.

Algeria’s Energy Minister, Chakib Khelil, said Sonatrach, the country’s state-owned gas company, would be able to share its experience in natural-gas transportation with the new pipeline project.