The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, has disclosed the details of the Pipeline Cooperation Agreement signed by the Nigerian and Moroccan government.
Kyari said the PCA is aimed at facilitating the establishment of a gas pipeline to supply the product from Nigeria to Morocco and the West African sub-region and further into Europe. Adding that the Nigeria-Morocco Gas Pipeline (NMGP) project will open new vistas for Nigeria’s gas aspirations.
Kyari disclosed this in a statement issued by Mr Ndu Ughamadu, the spokesman for the corporation on Tuesday in Abuja.
He said this at a stakeholders’ engagement involving the corporation, its Moroccan partner on the Gas Project, the Morocco National Office for Hydrocarbons & Mines (ONHYM), and the executives of International Oil Companies operating Nigeria, at the NNPC Towers.
The meeting was sequel to high-level discussions on the Pipeline Cooperation Agreement (PCA) for the NMGP project signed between both countries.
At the moment, both countries are planning to extend the pipeline that had been pumping gas from Nigeria to Benin, Togo and Ghana since 2010 to Morocco.
Kyari described the project as strategic for the country, adding that the project would provide market for Nigerian gas.
“We have a lot of stranded gas, particularly in the Deep water, that we need to put on the table.
“This project will enable us have more gas for domestic consumption so that we can improve power supply and gas to industry,” he said.
He further explained that along the pipeline’s corridor all the way to Morocco and into Europe, there was a huge potential for development of the West African sub-continent and part of North Africa.
“By doing this, we are also growing the economies of these countries along this pipeline and eventually ensuring peace and security which are necessary for the economic growth of these countries,” he added.
Kyari restated government’s commitment to the project and also reassured the International Oil Companies (IOCs) that issues around fiscal terms were being handled.
He urged the International Oil Companies to identify with the project.
The agreement was signed during separate visits by the leaders of both countries, President Muhammadu Buhari and King Hassan VI of Morocco.
Earlier, the Director General of the ONHYM, Amina Benkhadra, assured NNPC of the Moroccan government’s total support towards the project, stressing that the IOCs needed to be brought to speed on it.