The Federal Government has said that the Organisation of the Petroleum Exporting Countries (OPEC) and Russia are two international players that have expressed their interests to invest in the Nigeria-Morocco Gas Pipeline project.
According to the Minister of State for Petroleum Resources, Timipre Sylva, who dropped the hint after paying Sallah homage on President Muhammadu Buhari at the Presidential Villa, Abuja, the project would not be completed before the expiration of the administration in 2023.
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He said the Nigerian government is looking for funding partners to extend the West African Gas Pipeline project from Ghana to Morocco and connect it to the European market.
He said the Nigeria-Morocco gas project is a continuation of the West African Gas Pipeline project, which has already gotten to Ghana. According to him “It is already operational connecting Nigeria to Benin Republic, Togo and Ghana.”
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Speaking about the interests from funding partners, the minister said agreements have not been reached yet. He said “There is a lot of international investors’ interest in the project, but we have not really identified investors that we want to go with.”
“For the moment, the two investors in this project are Nigeria and Morocco, we are the two countries that are ready to come together to develop this pipeline and a lot of other investors are also interested in having a piece of the action,” he stated.