Nigeria’s $25 Billion Gas Line May Get Investment Nod Next Year
- Project to deliver gas to Europe would cost $20-25 billion
- Nigeria could increase oil output by 500,000 barrels: Kyari
This article is for subscribers only.
An investment decision on a $25 billion gas pipeline from Nigeria to Morocco that could supply the fuel to Europe will be taken next year, the head of the West African nation’s state oil company said.
The Nigerian National Petroleum Co. and Morocco’s National Office of Hydrocarbons and Mines signed a memorandum of understanding last month that inched the long-gestating project closer to reality. The conduit is one of two such initiatives the NNPC is promoting in an effort to capitalize on European demand for new sources of gas after Russia’s invasion of Ukraine.