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Wednesday, October 5, 2022

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    The OPEC Fund will be used to fund the Nigeria-Morocco gas pipeline.

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    According to Moroccan authorities, the OPEC Fund for International Development has agreed to fund the second phase of feasibility studies for an underwater gas link with Nigeria.

    The $14.3 million deal was inked to jointly fund the second phase of the research for the Nigeria-Morocco Gas Pipeline (NMGP) project, according to a statement from the Ministry of Economy and Finance.

    The study, which is co-funded by the Islamic Development Bank, includes “the preparation of documentation for the implementation of the NMGP project and completion of the corresponding technical, financial, and legal analyses,” according to the state news agency MAP.

    The 5,660-kilometer pipeline is expected to suit the needs of the West African countries it will pass through in terms of economic development.

    This pipeline will pass through Benin, Togo, Ghana, Ivory Coast, Liberia, Sierra Leone, Guinea, Guinea-Bissau, Gambia, Senegal and Mauritania.

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