AN investment decision on a $25 billion gas pipeline from Nigeria to Morocco that could supply the fuel to Europe will be taken next year, the head of the West African nation’s state oil company said.
The Nigerian National Petroleum Co. and Morocco’s National Office of Hydrocarbons and Mines signed a memorandum of understanding last month that inched the long-gestating project closer to reality. The conduit is one of two such initiatives the NNPC is promoting in an effort to capitalise on European demand for new sources of gas after Russia’s invasion of Ukraine.
“We will take a final investment decision next year,” NNPC Chief Executive Officer Mele Kyari said in an interview in Abuja, Nigeria’s capital. Discussions around financing are ongoing, he said, without disclosing the institutions interested in backing the 5 600-kilometer (3,840-mile) pipeline that would deliver gas to 11 countries along the African coast on its way
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