Nigeria-Morocco gas pipeline: OPEC, others express interest to invest
The Nigerian government has said the Organisation of the Petroleum Exporting Countries (OPEC) and Russia are some of the international interests showing willingness to buy into the Nigeria-Morocco Gas Pipeline project.
Minister of state, Petroleum Resources, Timipre Sylva, who disclosed this to State House Correspondents at the Presidential Villa, Abuja, however noted that the project would not be completed by the current administration.
He said the project, which is an extension of the West African Gas Pipeline project and already delivering gas from Nigeria up to Ghana, is still at the level of studies and finding funding partners, to take it to Morocco where it would connect the European market.
Sylva said “the Nigerian-Morocco gas pipeline is a continuation of the West African Gas Pipeline project, which has already gotten to Ghana, it is already operational connecting Nigeria to Benin Republic, to Togo and to Ghana.
“We want to continue that same pipeline all the way to Morocco down the coast. Right now, we are still at the level of studies, and of course, we are at the level of securing the funding for this project and a lot of people are indicating interest”, he explained.
On securing funding partners, he said “for the moment, the two investors in this project are Nigeria and Morocco, we are the two countries that are ready to come together to develop this pipeline and a lot of other investors are also interested in having a piece of the action.
“The Russians are very desirous to invest in this project and there’re lots of other people who are also desirous to invest in the project because this is a pipeline that is going to take our gas all through a lot of countries in Africa and also, all the way to the edge of the African continent where we can have access to the European market as well.
“OPEC is interested in the project and has indicated its interest, but there are a lot of other people that have indicated interest as well”, he said.
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