Morocco and Nigeria announce Trans-African Gas Pipeline | Rigfinder Oil Equipment | UAE

Morocco and Nigeria will jointly develop a new regional gas pipeline connecting the two countries, bringing gas resources of Nigeria to Morocco, its neighbours and Europe.

Morocco and Nigeria will jointly develop a new regional gas pipeline connecting the two countries, bringing gas resources of Nigeria to Morocco, its neighbours and Europe.

The Trans-African Pipeline project was announced during a Royal visit to Nigeria by His Majesty, King Mohammed VI, of Morocco.

The project will be supported through a new collaboration between Ithmar Capital, the Moroccan sovereign wealth fund, and the Nigeria Sovereign Investment Authority (NSIA). The two funds announced the signing of a Strategic Partnership Agreement (SPA) and a Memorandum of Understanding (MOU), which will see their countries cooperate on bilateral investment

Under the SPA, Ithmar Capital and NSIA have committed to jointly pursue investment in strategic sectors including food security, renewable energy and infrastructure. The SPA also commits the two institutions to share knowledge and expertise relating to the extractives sector, collaborate on research and best practices, and provide policy guidance in order to strengthen both countries’ capacity to manage natural resources.

The project will strengthen energy exports to Europe, linking Nigerian gas to the European energy market through Morocco.

The Nigerian Minister of Foreign Affairs, Dr Geoffrey Onyema, stated, “This South-South open platform will accelerate the structural transformation of the national economies of the region, thereby putting the entire region on a higher growth path. The two Heads of State agreed to set up a Bilateral Coordination Body to monitor this important project and commended such a strategic cooperation in Africa.”

The new collaboration between Morocco and Nigeria is intended to set a model for South-South cooperation and act as a catalyst for African economic opportunities. It aligns with the King of Morocco's regional strategy, in which he has declared that Africa is the top priority in Morocco’s foreign policy and that the Kingdom will contribute to economic projects that directly improve the lives of people in the region. This includes on projects related to the energy sector.

Source: Pipeline ME