Friday, September 16, 2022

ECOWAS Sign a MoU to Materialize Nigeria-Morocco Gas Pipeline Megaproject

By News Desk 

September 16, 2022

A Memorandum of Understanding was signed on Thursday, September 15 in Rabat, Morocco, between ECOWAS, represented by Mr. Sédiko DOUKA, Commissioner for Infrastructure, Energy and Digitalization, the Federal Republic of Nigeria, represented by Mallam Mele Kolo KYARI, President Director General of the Nigerian National Petroleum Company Limited “NNPC” and the Kingdom of Morocco, represented by Ms. Amina BENKHADRA, Director General of the National Office of Hydrocarbons and Mines “ONHYM”.

According to the joint communiqué produced following this signing, this Memorandum of Understanding confirms the commitment of ECOWAS and all the countries crossed by the gas pipeline to contribute to the feasibility, technical studies, mobilization of resources and the implementation of this important project which, once completed, will supply gas to all West African countries and will also allow a new export route to Europe. This strategic project will contribute to the improvement of the standard of living of the populations, to the integration of the economies of the region, to the mitigation of desertification thanks to a sustainable and reliable supply of gas through the reduction or elimination of flaring gas among other induced effects. It involves sixteen countries including fourteen members of ECOWAS. Also, this project will facilitate other countries to export their surplus natural gas: Ghana, Ivory Coast, Senegal and Mauritania.

This strategic Nigeria-Morocco Gas Pipeline project will run along the West African coast from Nigeria, passing through Benin, Togo, Ghana, Ivory Coast, Liberia, Sierra Leone, Guinea, Guinea Bissau, Gambia, Senegal, Mauritania to end in Morocco. In the long term, it will be connected to the Maghreb Europe Gas Pipeline and the European gas network and will also supply the landlocked States, namely Burkina Faso, Mali and Niger.

According to Commissioner Sédiko DOUKA, who represented the ECOWAS Commission on behalf of its President, His Excellency Dr Omar Alieu TOURAY , the Economic Community of West African States (ECOWAS), convinced of the viability of the project of the Nigeria-Morocco gas pipeline, will spare no effort for its outcome: ” We are convinced as a regional economic community of the viability of this project which represents a great opportunity and we will spare no effort for its outcome “.

The Commissioner for Infrastructure, Energy and Digitalization of ECOWAS also reiterated, on behalf of the President of the ECOWAS Commission, his full support for this regional project which will positively impact the lives of more than 400 million people.

“The impact of this project is very significant since it will ensure the supply of electrical energy to the West African zone, and in the long term the export of natural gas as fuel in Europe. We have followed from start to finish all the progress of the feasibility studies in the different validation phases “, he pointed out, adding that the next stage relates to the detailed execution studies, the mobilization of resources and finally at the actual construction phase.

Once launched, the project will be marketed to attract public and private investors, including multilateral or commercial banks, pension funds, insurance companies, among others. Because this project which extends over 6,000 km, will require 25 billion dollars. Several stakeholders are expected to ensure the financing component.

The signing of the Memorandum of Understanding also saw the participation of members of the Government of Morocco, namely Ms. Nadia Fettah Alaoui , Minister of Economy and Finance and Mr. Mohcine Jazouli , Minister Delegate in charge of Investments, Convergence and Evaluation of Public Policies. Finally, a courtesy visit was paid to His Excellency Nasser BOURITA , Minister of Foreign Affairs, African Cooperation and Moroccans Living Abroad.

No comments:

Post a Comment