ECOWAS, the Federal Republic of Nigeria and the Kingdom of Morocco have signed a memorandum of understanding (MoU) to progress the feasibility of the Nigeria-Morocco gas pipeline megaproject
The countries crossed by the pipeline and ECOWAS agreed to contribute to the feasibility and technical studies, mobilisation of resources and execution of the key project. This project, once completed, will supply gas to all the countries of West Africa and will open a new channel of export to Europe.
It is a strategic project that will reportedly contribute towards improving the living standards of the population, integrating the economies in the region, decreasing the level of desertification thanks to a sustainable and reliable gas supply and a reduction in or outright end to gas flaring, among others. Sixteen countries that include fourteen ECOWAS Member States, are involved in this project. The project will also assist other countries to export their surplus natural gas.
The strategic Nigeria-Morocco gas pipeline project will span 6,000 km and will traverse the West African coast from Nigeria to Morocco, through Benin, Togo, Ghana, Cote d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea Bissau, The Gambia, Senegal, Mauritania.
In the long term, it will be connected to the Maghreb-Europe gas pipeline and to the European gas network. It will also help cater to the land-locked countries of Burkina Faso, Mali and Niger.
With the launch of the project, efforts will be made to attract public and private investors including multilateral or commercial banks, pension fund, insurance companies, among others. The project is expected to cost US$25bn. The financing of the project is expected to involve several stakeholders.