Nigeria and Morocco to sign intergovernmental agreement for $25 billion transcontinental gas pipeline
via Punch Nigeria19 hours ago3 min read
Nigeria and Morocco are preparing to sign an intergovernmental agreement this year for the $25 billion African Atlantic Gas Pipeline, a 6,900-kilometer network designed to transport natural gas from Nigeria across West Africa to Morocco and onward to Europe. Amina Benkhadra, Director-General of Office National des Hydrocarbures et des Mines, stated that this agreement will formalize political and regulatory commitments and pave the way for stronger institutional coordination among the 13 participating countries. A high authority for the pipeline will be established in Nigeria, comprising ministerial representatives from each country. The project, conceived about a decade ago, has completed feasibility studies and front-end engineering design. It will be developed in phases to allow early delivery of economic value, with an annual capacity of 30 billion cubic meters, 15 billion of which are for Morocco's domestic use and European exports. A dedicated project company, a joint venture between Nigerian National Petroleum Company Limited and ONHYM, will be established in Morocco to lead execution, financing, and construction. While investor interest is strong, no final funding commitments have been secured, with financing expected to combine equity and debt. The pipeline aims to boost electricity generation, support industrialization, and deepen regional integration across West Africa, with initial segments connecting Morocco to Mauritania and Senegal, and Ghana to Côte d’Ivoire a
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Original source
This summary was AI-generated from a story originally published by Punch Nigeria.
