The Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has said that the Nigeria-Morocco gas pipeline project is one of the most ambitious projects, and the world is ready to finance it.
According to Kyari in his interview with the Nigerian online newspaper, Daily Trust, this project “is going to cost over $25billion, but more than anything, it is going to connect 11 West African countries to our gas sources; and that way, we will be creating prosperity around Nigeria.”
“You are creating peace around you and also creating a market for the huge gas we have. Ultimately, that gas will end up in Europe.”, Kyari added.
Regarding financing this giant project, Kyari said, "The world is ready to finance it. We have substantial indications of closure around financing. Many financial institutions have come to the table. By the way, the world needs the gas and they will finance it.”
The Nigeria-Morocco gas pipeline is a project signed between the two African nations in 2016 in an official ceremony chaired by the King of Morocco Mohammed VI and the former Nigerian president, Muhammadu Bukhari, in the Moroccan capital Rabat.
The aim of this promising project is to pump Nigerian gas to Morocco through 11 West African countries and then to Europe from Morocco and contribute to the prosperity of all the parties involved in this project.
In the meantime, Morocco seeks to secure its basic necessities of energy through this project and recompensate its previous dependency on Algerian gas after the diplomatic crisis that inflamed between Rabat and Algier two years ago which caused Algeria to stop pumping gas to Morocco.