During the 8th Organization of Petroleum Exporting Countries International Seminar in Vienna, Austria, Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), unveiled plans for the construction of a new international gas pipeline valued at nearly $8 billion.
Kyari highlighted that the NNPCL, in collaboration with its partners, is currently engaged in the development of the Nigeria-Morocco gas pipeline, a $25 billion project that aims to supply gas from Nigeria to 11 African countries and facilitate its transportation from Morocco to Europe.
The proposed gas pipeline will traverse through the Niger Republic and Algeria before reaching Europe, serving as an alternative to Russia for gas supplies, particularly as the conflict between Russia and Ukraine persists.
Kyari stated, “We have undertaken the construction of a $25 billion pipeline connecting Nigeria and Morocco, spanning across 11 West African nations. Additionally, we are in the planning phase for another pipeline that will pass through the Niger Republic and Algeria, ultimately reaching Europe. The estimated investment for this project ranges between $7 billion and $8 billion.”
Furthermore, the NNPCL intends to enhance its existing Liquefied Natural Gas (LNG) facility by adding another train. This expansion will effectively double the facility’s capacity, thus meeting the growing demands of the market.