Nigeria-Morocco $25b gas pipeline set for December says Kyari.
The Group Chief Executive Officer of the Nigeria National Petroleum Company limited, Mr. Mele Kyari says the final Investment Decision (FID) for the $25b Nigeria-Morocco Gas Pipeline (NMGP) Project will be made by December 2024
In a statement by NNPC, Mr Kyari said the ongoing engagement on the NMGP is at an advanced stage and will create a pipeline that will pass through thirteen African countries and all the way to Europe.
He stated that, as the largest oil and gas company and corporate entity in Africa, NNPC Ltd. is critical to Nigeria’s resource management and economic development.
He observed that the Petroleum Industry Act (PIA) 2021 has reformed Nigeria’s oil and gas industry, by ensuring that NNPC Ltd emerged as a fully commercial entity.
Related Posts
Also, Kyari said Nigeria is fighting the menace of crude oil theft frontally, and through the joint efforts of the government and private security agencies, there have been some reasonable improvements in the restoration of the nation’s crude oil production.
“It is an abnormal situation, but it is well within control. We were able to recover some of our production and build back confidence so that investors could bring in their money. We are also doing global advocacy for governments and institutions because stolen oil has to be taken to the market,” he stated.
