Nigeria and Equatorial Guinea Sign Gas Pipeline Agreement
Nigeria and Equatorial Guinea have signed a landmark agreement to establish and operate a gas pipeline, marking a significant step towards enhancing regional energy security and promoting economic integration across Africa. The agreement was announced on Thursday by Nigerian presidential spokesperson Ajuri Ngelale.
The signing took place during a three-day official visit by Nigerian President Bola Tinubu to Equatorial Guinea, where he met with President Teodoro Obiang Nguema Mbasogo. The two leaders discussed a range of issues, including employment, conflicts, and food security, before finalizing the pipeline agreement.
The project builds on a 2016 accord between Nigeria and Morocco to construct a gas pipeline aimed at boosting regional integration and providing an export route for African gas to Europe.
The project, which is supported by the Economic Community of West African States (ECOWAS), is estimated to cost $25 billion and will have a capacity of 30 billion cubic meters of gas per year. It will be completed in three phases, connecting to existing infrastructure along the route.
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The new agreement between Nigeria and Equatorial Guinea covers key aspects of the project, including legislative and regulatory frameworks, the establishment and operation of the pipeline, natural gas transit, ownership rights, and overarching principles governing the collaboration.
President Mbasogo lauded the deal as a strategic move for Africa’s development, emphasizing its importance in the continent’s ongoing bid to secure a permanent seat on the United Nations Security Council.
The agreement represents a significant milestone in the collaboration between African nations to harness and distribute natural resources, while also positioning Africa as a key player in the global energy market.
