Nigeria and Morocco are establishing a joint venture company to manage the ambitious $25 billion gas pipeline project that will eventually deliver Nigerian gas to European markets, according to Morocco’s energy minister.
Leila Benali, Morocco’s minister of energy transition and sustainable development, informed the country’s parliament that the mega-project has entered the execution stage after completing feasibility and engineering studies. She revealed that a floating gas storage terminal will be installed at Nador on the Mediterranean coast.
“The project has made considerable progress,” Benali stated, adding that the 5,300-kilometer pipeline route has been finalized and that tenders for constructing a floating storage regasification unit at Nador port will be issued soon.
Once completed, the pipeline will transport approximately 30 billion cubic meters of natural gas annually from Nigeria through several African nations including Benin, Togo, Ghana, Sierra Leone, Guinea, and Senegal before terminating in Morocco with a connection to Spain.
Reports from Morocco’s Hespress newspaper suggest that funding for the project may come from oil-rich Gulf countries after generating limited interest from European investors, who are increasingly focused on hydrogen initiatives.
Source: leadership.ng
