The Nigeria-Morocco gas pipeline project, valued at $25 billion, is inching closer to its final investment decision, slated for December 2024. The Chief Executive Officer (CEO) of the Nigeria National Petroleum Corporation Limited (NNPCL) made this announcement during a Leadership Dialogue Session at the ongoing CERAWeek Conference in Houston, Texas, on Tuesday.
Highlighting the progress made thus far, the CEO underscored the project’s aim to establish a pipeline traversing 13 African countries. This initiative is designed not only to harness Nigeria’s abundant natural gas reserves but also to offer an alternative to fossil fuels, aligning with global calls for sustainable energy solutions.
Addressing challenges within Nigeria’s oil industry, the CEO highlighted rampant cases of oil theft as a significant concern. However, he noted positive strides in combating this issue through collaborative efforts between the government and private security services, leading to the restoration of crude oil output.
Amid increasing international calls for energy transition, the CEO emphasized the need for a distinctive approach to realizing this transition in Africa. Recognizing the complexity of the issue, particularly in Sub-Saharan Africa, he emphasized regional variations in energy availability and the importance of tailored solutions.
