Nigeria’s oil authorities expect FID on Morocco gas pipeline by year’s end

A final investment decision (FID) to build the Nigeria-Morocco gas pipeline is expected to be reached by the end of 2024, chief of state-owned Nigerian National Petroleum Company (NNPC) said.

The pipeline, to cost about $25 billion, runs 7000 kilometers both on-shore but mostly offshore.

“There is ongoing engagement on the Nigeria Morocco Gas Pipeline Project (NMGP), which is at an advanced stage, to create a pipeline that will pass through 13 African countries and all the way to Europe,” NNPC CEO Mele Kyari told the CERAWeek energy conference in Houston, Texas, organized by S&P Global.

“The final investment decision (FID) for the $25 billion NMGP project will be made by December 2024,” Kyari said.

Moroccan King Mohammed VI and former Nigerian president Muhammadu Buhari have agreed to build the pipeline in 2016, as a key project to promote regional integration.

King Mohammed VI had described, in a speech he delivered in November 2022, the Nigeria-Morocco Gas Pipeline as “a project for peace, for African economic integration and for co- development… a project for the present and for future generations.”

The pipeline has the support of regional and international financing institutions, which have expressed their wish to fund.

The project has the backing of the ECOWAS west African economic grouping and is expected to help the region meet its energy security goals.