Mele Kyari, chief executive of the Nigerian National Oil Company Group, announced on Thursday that NNPCL will build a new international gas pipeline worth about $8 billion.
NNPCL and its partners are currently working on the construction of the US$25 billion Nigeria-Morocco gas pipeline, which will transport gas from Nigeria to about 11 African countries and from Morocco to Europe.
During a panel discussion at the 8th International Oil Exporters Seminar in Vienna, Austria, kyari explained that the proposed $8 billion pipeline would run through the Republic of Niger to Algeria and then to Europe. bottom.
He revealed this in a video clip provided to the NNPCL correspondent in Abuja. Kyari participated in a roundtable discussion of a seminar titled “Eradicating Energy Poverty”.
“We are building a $25 billion pipeline from Nigeria to Morocco via 11 countries in West Africa,” he said. We plan to build another pipeline through the Republic of Niger and through Algeria to Europe, with a potential of $7 billion to $8 billion.
“We are also adding another train to our current LNG (liquefied natural gas) facility, which of course will double the capacity of our current plant and make it available to the market. means that.”
The NNPC pilot said the oil company is working on a number of other gas projects to further push gas penetration in Nigeria and other countries. Last month, Nigeria, Morocco, Côte d’Ivoire, Liberia, Benin and Guinea signed four memoranda of understanding to build a $25 billion Nigeria-Morocco gas pipeline project.
The participating countries signed a memorandum of understanding at the Abuja headquarters of the Economic Community of West African States, while the project steering committee met at the ECOWAS office to discuss the progress of the project and its strategic direction. Four memorandums of understanding were signed and a tripartite agreement was signed between NNPCL and the Moroccan National Hydrocarbon Mining Authority, the Ivory Coast National Oil Companies Association, the Liberian National Oil Company and the Society Association. On the other hand, Benin’s Nationale des Hydrocarbures and Guinea’s Société Nationale des Pétroles.
This Memorandum of Understanding was signed between ECOWAS on 15 September 2022, Mauritania and Senegal on 15 October 2022, and Gambia, Guinea-Bissau, Sierra Leone and Ghana on 5 December 2022. The same, and reaffirmed the following commitments of both parties: strategic project.
The completion of the Nigeria-Morocco pipeline project will enhance the monetization of natural gas resources in affected African countries and also provide a new alternative export route to Europe.
In another development, NNPCL confirmed in a tweet on Thursday that no fuel subsidies have been paid to oil distributors since 2016. This confirms that NNPCL has subsidized gasoline for several years and paid for it itself. “As of January 2016, no petrol subsidies have been paid to distributors.
“NNPC Ltd will coordinate subsidy deductions with the association,” the company said.
