An investment decision on a $25 billion gas pipeline from Nigeria to Morocco that could supply the fuel to Europe will be taken next year, the head of the West African nation’s state oil company said.
Blomberg reports that, the Nigerian National Petroleum Co. and Morocco’s National Office of Hydrocarbons and Mines signed a memorandum of understanding last month that inched the long-gestating project closer to reality.
The conduit is one of two such initiatives the NNPC is promoting in an effort to capitalize on European demand for new sources of gas after Russia’s invasion of Ukraine.
The pipeline will originate from Brass Island (Nigeria) and terminate in the North of Morocco, where it will be connected to the existing Maghreb European Pipeline that originates from Algeria (via Morocco), all the way to Spain, according to the sponsors. It traverses 13 African countries and is aimed at monetising Nigeria’s abundant natural gas resources, diversify the country’s gas export routes and eliminate gas flaring across Nigeria.