Nigeria and Morocco are still seeking funding to finance a major pipeline project to transport Nigerian gas to North Africa and Europe, Nigeria’s oil minister said on Monday (May 2).
Africa’s gas reserves have come under increasing scrutiny since Russia began its invasion of Ukraine, with the European Union (EU) in particular seeking alternatives to Russian gas supplies.
Four years ago, King Mohammed VI of Morocco and Nigerian President Muhammadu Buhari agreed on a mega-project that will transport natural gas more than 3,000 kilometers along the Atlantic coast. The two countries first signed the agreement in 2016.
Nigerian Oil Minister Timipre Sylva said the pipeline would be an extension of a natural gas pipeline that has transported natural gas from southern Nigeria to Benin, Ghana and Togo since 2010. “We want to continue the pipeline along the coast to Morocco. Today, the project is still being studiedMr Silva said on Monday. We are getting funding and many people are showing interest. »
huge potential
“The Russians were in my office last week and they were very keen to invest in the project”said the minister.
For now, Mr. Silva said there had been no agreement on funding. “There is a lot of interest internationally, but we have yet to identify the investors we want to work with. »
Bringing Nigerian gas to North Africa has long sparked much interest, with Algeria in particular leading discussions in 2002 for a similar pipeline project across the Sahel.
Nigeria is a member of OPEC and has huge natural gas reserves, ranking first in Africa and seventh in the world.
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