Morocco’s hydrocarbons & mining agency is accelerating the Nigeria-Morocco gas pipeline project with the launching of a $ 25 billion fundraising for this pipeline,according to press reports.
This is the first funding initiative launched by the Office National Des Hydrocarbures & Des Mines (ONHYM) since its reorganization into a public limited company in February.
Morocco has been working since 2018 to build a 6,900-km gas pipeline,consisting of onshore and offshore components linking deposits in Nigeria,Senegal and Mauritania to 10 neighboring African countries. The pipeline is expected to transport nearly 30 billion cubic meters of natural gas per year to the North African Kingdom and then to Europe.
The project has gained momentum as Europe is seeking to diversify its energy sources and reduce its reliance on traditional suppliers with recurrent disruptions of energy corridors.
The planned pipeline will enable Morocco to position itself as an energy hub between Africa and Europe. ONHYM says this project offers a “major opportunity to unlock some of the world’s largest untapped gas reserves,calling it a “structuring step for Euro-African energy security.”
For the Moroccan National Office of Hydrocarbons and Mining,the project’s longer coastal route offers broader benefits as the network will significantly boost electrification,inclusive economic development and energy access for the participating West African nations.
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