Nigeria, Morocco, others sign MoU to fast track $25bn gas project

Nigeria has signed four Memoranda of Understanding to construct a gas pipeline from the country to Morocco and possibly to Europe.

The agreements were signed at the headquarters of the Economic Community of West African States (ECOWAS) in Abuja, according to a statement signed by the Chief Corporate Communications Officer, NNPC Limited, Garba Deen Muhammad.

He disclosed that the tripartite MOUs were signed between the Nigerian National Petroleum Company Limited (NNPC) and the Office National des Hydrocarbures et des Mines (ONHYM) of Morocco on one hand, and the Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI), the National Oil Company of Liberia (NOCAL), the Société Nationale des Hydrocarbures of Benin (SNH-Benin), and the Société Nationale des Pétroles of the Republic of Guinea (SONAP) on the other hand.

He added that the project’s Steering Committee convened to discuss the progress of the project and its strategic direction.

According to him, the 5,600 kilometres gas pipeline project which would cost about $ 25 billion is expected to accelerate development in Africa, especially, the ECOWAS sub-region.

He said, once completed, the project would enhance the monetization of the natural gas resources of the affected African countries and also offer a new alternative export route to Europe.

“This significant infrastructure project will contribute to accelerating access to energy for all, improving the living conditions of the populations, integrating the economies of the sub-region, and mitigating desertification. It will achieve these goals through the provision of a sustainable and reliable gas supply that aligns with the continent’s new environmental commitments while providing Africa with a new economic, political, and strategic dimension”, he added in the statement.

He quoted the Group Chief Executive Officer of NNPC Ltd, Mr Mele Kyari, as thanking President Bola Ahmed Tinubu and the Nigerian Government for entrusting NNPC Ltd with the strategic project as the national energy company.

As a commercial enterprise, he said, NNPC Ltd, sees the project as an opportunity to monetize Nigeria’s abundant hydrocarbon resources, by expanding access to energy to support economic growth, industrialization, and job creation across the African continent and beyond.

The Director General of ONHYM, Amina Benkhadra said that the gathering represents a progressive step in ensuring social and economic development through energy security and accessibility geared towards attaining total development of Africa by Africans.

Speaking, the ECOWAS Commissioner for Infrastructure, Energy, and Digitization, Mr. Sédiko Douka said the gas pipeline project is significant as it will help strengthen the region’s electricity production/generation capacity, stimulate industrial and agricultural development, and contribute to the energy transition by using a source of energy that is cleaner than other fossil fuels.