The Nigerian National Petroleum Company Limited (NNPCL) on Friday signed four Memoranda of Understanding (MoU) with Office National des Hydrocarbures et des Mines (ONHYM) and four national oil companies in a strategic move to achieve the Nigeria-Morocco Gas Pipeline project’s objectives for sub-regional countries’ economic benefits
The parties to the deal reaffirmed their commitment on the sidelines of the maiden Steering Committee meeting of ECOWAS, NNPCL, ONYHM and other stakeholders on the development of a single gas pipeline project at the Economic Community of West African States’ (ECOWAS’) headquarters in Abuja.
The latest Memoranda of Understanding, which are similar to those signed with ECOWAS on September 15, 2022, Mauritania and Senegal on October 15, 2022, and The Gambia, Guinea-Bissau, Sierra Leone, and Ghana on December 5, 2022, reaffirmed the commitment of the parties to this strategic project.
The occasion also featured the statutory agreement of the merging of the West Africa Gas Pipeline Extension Project (WAGPEP) and the Nigeria-Morocco Gas Pipeline (NMGP) project in order to pool efforts to achieve a single gas pipeline project.
Speaking at the landmark event, the NNPCL’s Group Chief Executive Officer, Mr. Mele Kyari, thanked the National Oil Company of Liberia (NOCAL), Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI), the Société Nationale des Hydrocarbures of Benin (SNH-Benin), and the Société Nationale des Pétroles of the Republic of Guinea (SONAP) for participating in the strategic project through the execution of the Memoranda of Understanding.
According to him, the deal is a clear demonstration of the commitment of the host governments, the ECOWAS Commission, and the National Oil Companies to deliver on the multi-billion dollar project, create wealth and value for our countries and other stakeholders.
Kyari said: “As you are aware, our collective decisions and actions guided by our shared vision would extend far beyond gas supply to spur prosperity and economic integration between our nations.”
The NNPCL’s boss maintained that as a commercial enterprise, NNPCL saw the project as an opportunity to monetize the nation’s abundant hydrocarbon resources, by expanding access to energy, support economic growth, industrialization, and job creation across the African continent and other geographies.
While commending President Bola Ahmed Tinubu-led government for entrusting NNPCL with the project as the National Energy Company, Kyari disclosed that the FEED Phase II Study of the project had reached over 70% to completion.
According to him, the tendering process for the Surveys, Environmental and Social Impact Assessment (ESIA) as well as Land Acquisition & Resettlement Policy Framework (LARPF) are on track with clear visibility into project funding.
The $25 billion worth Nigeria-Morocco Gas Pipelines Project, which will transverse through Benin, Togo, Ghana, Cote d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea-Bissau, Gambia, Senegal and Mauritania, when completed will boost energy supply across West Africa and possibly to Europe.
