a day ago
Morocco seeks US investors for gas pipeline project with Nigeria
Morocco showcased its ambitious gas pipeline project that will connect Nigeria's gas supply to Moroccan and European markets at the US-Africa Energy Forum held on 6-7 August in Texas.
Morocco's presentation on this crucial international stage marks a significant step toward securing foreign backing at a key time when US investors are actively seeking to boost energy projects across Africa, Moroccan newspapers said.
They said that Nawfal Drari, Director of Project Finance at Morocco's National Office of Hydrocarbons and Mines (ONHYM), the pipeline's parent-tenderer, delivered talking points covering the $25 billion initiative's progress and investment opportunities, adding that the project has reached a 'strategic phase.'
Launched in 2017 the project has reached a final investment decision (FID) and a show of support from US investors could catapult that progress into an accelerated reality.
'For Morocco, the pipeline represents more than just energy infrastructure. The government views it as a catalyst for economic transformation that will create thousands of jobs and establish the North African country as a primary energy transit hub connecting Europe, Africa, and the Atlantic basin.'
The massive pipeline will stretch approximately 6,000 kilometres across multiple African countries, connecting Nigeria's natural gas reserves to Morocco and eventually to European markets. Engineers designed the system to carry between 15 and 30 billion cubic metres of natural gas annually.
(Writing by Nadim Kawach; Editing by Anoop Menon)
