UAE To Invest in Morocco-Nigeria Gas Pipeline Project
Minister of Energy Leila Benali announced the news recently, noting that the project won support from different international organizations, as well as the UAE.
'As for finance, the project has won the support of IDB, OPEC Fund, EIB, and the UAE…it will pass through 15 African countries,' she said.
On Tuesday, the minister emphasized that Morocco is on a steady path to becoming a regional hub for renewable energy.
She stressed that Morocco is focusing on developing renewable energy, localizing technology, and building local industrial supply chains that create jobs. Minister Benali added that the country has strong potential to produce green hydrogen products such as methanol and ammonia, which could power international shipping fleets at lower costs than liquified natural gas.
Morocco has been working to strengthen and diversify its gas resources for years.
In April, the country announced the start of an action plan, expressing interest in launching a tender to develop the first phase of the natural gas terminal in Nador.
As part of its strategies to reinforce energy assets, Morocco is also working with Nigeria on the mega $25 billion gas pipeline project that seeks to connect at least 13 African countries, providing them with gas.
Morocco is set to be home to 1,672 kilometers of the pipeline, which will also connect the Nigerian gas to Europe.
In addition to the UAE, the US has also reportedly expressed interest in investing in the project.
Voice of Naija quoted Nigeria's Minister of Finance, Wale Edum, in April, noting that he held a meeting with Nigeria's Central Bank Governor Olayemi Gardoso and the director of international economic relations, as well as with representatives from the US State Department.
'Key areas of interest include U.S. interest in investments in Nigeria's natural gas sector, particularly the Nigeria–Morocco Gas Pipeline, given the country's vast gas reserves,' the minister said. Tags: nigeria morocconigeria morocco pipeline
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