The Nigeria-Morocco Gas Pipeline Project has advanced with the signing of four Memoranda of Understanding (MoU) to ensure progress and strategic direction of the $25 billion Trans-Atlantic gas pipeline project.

The four MoUs were signed at the headquarters of the Economic Community of West African States (ECOWAS) in Abuja during the project’s first steering committee meeting on Friday, June 16.

The agreements were signed between the Nigerian National Petroleum Company Limited (NNPCL), Office National des Hydrocarbures et des Mines (ONHYM) of Morocco, and the Société Nationale des Opérations Pétrolières of Cote d’Ivoire (PETROCI).

Others include the National Oil Company of Liberia (NOCAL), the Société Nationale des Hydrocarbures of Benin (SNH-Benin), and the Société Nationale des Pétroles of the Republic of Guinea (SONAP).

Once completed, the project will enhance the monetisation of the natural gas resources of the affected African countries and also offer a new alternative export route to Europe.

In his remarks, the Group Chief Executive Officer of the NNPCL, Mele Kyari, disclosed that currently, FEED Phase II Study was at over 70 per cent in tendering process for the surveys, with clear visibility in project funding.

READ ALSO: IPMAN accuses NNPCL of fraud in fuel distribution

Kyari listed the surveys as the Environmental and Social Impact Assessment (ESIA) and the Land Acquisition and Resettlement Policy Framework (LARPF).

He said: “We are also pleased to welcome our counterparts from NOCAL of Liberia, PETROCI of Cote D’Ivoire, SNH Benin, and SONAP of Guinea for committing to collaborate with us on this project through the execution of MoU.

“This is a clear demonstration of the commitment of the Host Governments, the ECOWAS Commission, and the National Oil Companies to deliver on this strategic project, create wealth and value for our countries and other stakeholders.

“As you are aware, our collective decisions and actions guided by our shared vision would extend far beyond gas supply to spur prosperity and economic integration between our nations.”

Kyari, while expressing appreciation to President Bola Tinubu for entrusting NNPCL with the strategic project, acknowledged ECOWAS Commission’s role in co-hosting the meeting in addition to planned execution of the Treaty, Host Government Agreements, and other enablers.

Also speaking, the Director-General of ONHYM, Amina Benkhadra, said the gathering represented a progressive step in ensuring social and economic development through energy security and accessibility geared towards attaining total development of Africa by Africans.

On his part, the ECOWAS Commissioner for Infrastructure, Energy and Digitisation, Sédiko Douka, said the pipeline was designed from Nigeria to Morocco, passing through Atlantic Coast States, with inland ramps to supply the Interland Countries, possibly to Europe.

“The project will strengthen our electricity production/generation capacity, stimulate industrial, agricultural development, and contribute to the energy transition by using a source of energy that is cleaner than other fossil fuels,” he added.

The Star