Nigeria and Morocco agree to pipeline

This was just one agreement that was reached during a visit by the Moroccan King President Mohammed VI to the Nigerian capital, Abuja.

"In this agreement, both countries agreed to study and take concrete steps toward the promotion of a regional gas pipeline project that will connect Nigeria's gas resources, those of several West African countries and Morocco," Geoffrey Onyema, the Nigerian Minister of Foreign Affairs, stated.

"That's a very big and important project for us," Onyeama added, without giving further details. Retuers highlighted that no timeline has been given for when the pipeline construction work will commence and how much it will cost.

In a government video posted on Twitter, Onyema said that the pipeline would "go along the coast from West Africa, Nigeria, all the way up to Morocco and into Europe.”

Onyema said the project aims to create a competitive regional market with the potential to be connected to the European energy markets. It is also believed that the gas pipeline project would also accelerate energy and electrification projects across the affected member countries.

At present, Nigeria is rich in hydrocarbons. However, it produces little electricity, which makes it uncompetitive. In turn, this has made its economy face a recession due to the plunge in crude prices. Moreover, with militants active in its oil producing Niger Delta, this has cut crude output further this year. The militants have attacked key pipelines in a quest for a larger share of Nigeria's oil wealth.

According to AllAfrica, Onyema also said that both Nigeria and Morocco also agreed to develop integrated industrial clusters in sectors such as manufacturing, Agro-business and fertilisers to attract foreign capital and enhance export competitiveness.

Read the article online at: https://www.worldpipelines.com/business-news/05122016/nigeria-and-morocco-agree-to-pipeline/