Nigeria-Morocco Gas Pipeline project: Russia, OPEC, others to invest — Sylva
...the pipeline is going to take our gas all through a lot of countries in Africa and also all the way to the edge of the African continent where we can have access to the European market
The Organization of the Petroleum Exporting Countries (OPEC), Russia and others have showed interest in the Nigeria-Morocco Gas Pipeline project, according to the Minister of State for Petroleum Resources, Chief Timipre Sylva.
The project, an extension of the West African Gas Pipeline project has already delivered gas from Nigeria up to Ghana.
“For the moment, the two investors in this project are Nigeria and Morocco, we are the two countries that are ready to come together to develop this pipeline and a lot of other investors are also interested in having a piece of the action.
“The Russians were with me in the office last week, they are very desirous to invest in this project and there are lots of other people who are also desirous to invest in the project because this is a pipeline that is going to take our gas all through a lot of countries in Africa and also all the way to the edge of the African continent where we can have access to the European market as well.
“OPEC is interested in the project and has indicated its interest, but there are a lot of other people that have indicated interest as well.
“We are at the level of study and the studies will let us know how much investment will be needed for this and every other thing before we can now approach investors that are interested as well,” Sylva said.
He spoke to State House correspondents on Monday evening after paying Sallah homage to President Muhammadu Buhari at the Presidential Villa, Abuja.
The minister also explained:”We want to continue that same pipeline all the way to Morocco down the coast.
“Right now, we are still at the level of studies, and of course, we are at the level of securing the funding for this project and a lot of people are indicating interest.”
He, however, indicated that the project could not be completed by the Buhari administration.
“This administration cannot finish the Nigerian/Morocco gas pipeline, but we can at least get it at the point of starting before we leave,” he said.