The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to construct another international gas pipeline valued at approximately $8 billion. This pipeline will traverse Niger Republic and Algeria before reaching Europe. The announcement was made by Mele Kyari, the Group Chief Executive Officer of NNPCL, during a panel session at the 8th Organization of Petroleum Exporting Countries International Seminar in Vienna, Austria. Kyari also mentioned that the NNPCL is currently working on the $25 billion Nigeria-Morocco gas pipeline project, which will supply gas from Nigeria to 11 African countries and transport it from Morocco to Europe.
The Nigeria-Morocco gas pipeline project, which involves Nigeria, Morocco, Cote d’Ivoire, Liberia, Benin, and Guinea, has seen the signing of four Memoranda of Understanding (MoUs). These MoUs were signed at the Abuja headquarters of the Economic Community of West African States (ECOWAS), and they reaffirm the commitment of the parties to the project. The pipeline aims to monetize the natural gas resources of the participating African countries and provide an alternative export route to Europe.
In addition to these projects, Mele Kyari mentioned that the NNPCL is expanding its current Liquefied Natural Gas (LNG) facility with another train. This expansion will double the capacity of the facility and make it available to the market. Kyari also stated that the NNPCL is working on various other gas projects to promote the use of gas in Nigeria and other nations.
Furthermore, the NNPCL confirmed via a tweet that no fuel subsidy payments have been made to oil marketers since January 2016. This confirms earlier reports that the NNPCL has been shouldering the cost of petrol subsidies on its own.
