Morocco Seeks $26 Billion for Ambitious Gas Pipeline Project
Morocco is on a strategic mission to secure $26 billion in funding for its ambitious gas pipeline project in collaboration with Nigeria, as reported by Bloomberg. Ambassadors of Morocco, including Youssef Amrani, have been actively engaging with potential financial institutions such as the United States Export-Import Bank and the World Bank to facilitate this endeavor. The urgency of these negotiations has been underscored by recent disruptions in energy supplies from the Middle East, particularly those linked to the ongoing conflict with Iran, which has elevated the pipeline's strategic importance. The purpose of this gas pipeline is to transport African gas to Europe, significantly enhancing the energy landscape of the region.
During a recent interview in Washington, Amrani articulated the project's significance and referred to it as one of the most ambitious infrastructure developments in Africa. Although he refrained from discussing specific details about the ongoing financial negotiations, a spokesperson from the United States Export-Import Bank confirmed that preliminary discussions regarding the African Atlantic gas pipeline are underway. As of now, the World Bank has not provided any comments concerning the project.
On July 19, leaders from the Economic Community of West African States signed an intergovernmental agreement that officially supports this extensive 6,800-kilometer initiative. The gas pipeline is expected to have the capacity to transport up to 30 billion cubic meters of gas, with half of this supply earmarked for Morocco and the other half intended for European markets. Construction of the pipeline is anticipated to commence in 2028, with initial gas deliveries slated for 2031, contingent upon securing necessary financial commitments.
As reported by es.yabiladi.com.
