Morocco Advances to Funding Stage for Major Gas Pipeline Project
Morocco is poised to embark on a significant phase in the development of the gas pipeline project connecting Nigeria and Morocco, which will traverse 13 African nations. The National Office of Hydrocarbons and Mines (ONHYM) is set to engage in the financing process necessary for the realization of this ambitious project. This development follows ONHYM's transition to a joint-stock company earlier this year, a strategic move aimed at enhancing its flexibility in forming partnerships and attracting financial resources.
According to information obtained by Bloomberg from ONHYM, the agency will initiate the search for the required funding for this colossal project, estimated at a staggering $25 billion. However, ONHYM has not provided detailed information regarding the timing or nature of the anticipated financing. The commencement of this funding phase signifies a transition from preparatory studies to the actual implementation of a project that stretches approximately 6,900 kilometers, encompassing both land and maritime components designed to transport gas from Nigeria, Senegal, and Mauritania to ten African countries, including Morocco.
Under the vision of King Mohammed VI, the Moroccan approach to this project transcends mere gas transportation; it embodies a broader vision aimed at bolstering African integration. This initiative seeks to ensure that the involved countries benefit from electricity access while also fostering industrial and mining development in these regions. The gas pipeline, which will be overseen by a joint venture between ONHYM and the Nigerian National Petroleum Corporation (NNPC), will pass through 13 countries starting from Nigeria and traversing Benin, Togo, Ghana, Côte d'Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, The Gambia, Senegal, Mauritania, and ultimately reaching Morocco. From Morocco, surplus gas will be exported to Europe through the existing gas line between Morocco and Spain.
As reported by ahdath.info.
