Four memoranda of understanding between Nigeria, Morocco and 12 other countries were signed Friday in Abuja as part of the Nigeria-Morocco N17.5trillion ($25 billion) Gas Pipeline Project.
The tripartite memoranda 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.
Once completed, the project will enhance the monetisation of the natural gas resources of the affected African countries and offer a new alternative export route to Europe.
In his remarks, the Group Chief Executive Officer of the NNPC Ltd, Mr Mele Kyari said, “As a commercial enterprise, NNPC Ltd sees this project as an opportunity to monetise Nigeria’s abundant hydrocarbon resources, by expanding access to energy to support economic growth, industrialisation and job creation across the African continent and beyond.”
He said African countries are determined to take their destinies into their hands. “We need our energy efficiency. This gas resources available in Nigeria, Senegal, and few other countries will now be pulled together by this pipeline network to connect all of us, make energy available to all of us and also create prosperity in our various countries
