FID on $25bn Nigeria-Morocco pipeline for December - Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has stated that the Final Investment Decision for the $25bn Nigeria-Morocco Gas Pipeline Project will be made in December 2024.

He made this known while speaking during a Leadership Dialogue Session at the ongoing CERAWeek Conference in Houston, United States, on Tuesday, March 19.

He stated that the project will create a pipeline that will pass through thirteen African countries to Europe. Kyari added that the goal of the NNPC was to build its capacity to deliver gas to the domestic market and beyond.

He said: “We understand the arguments towards attaining energy transition, but the cheapest way to achieve that is through gas. We see clear opportunities that gas creates.

"Today we are building a number of trunklines and other gas infrastructure that will supply gas to a number of gas networks.”

Kyari continued that the country was fighting the menace of crude oil theft frontally but there has been some improvements in the restoration of the nation’s crude oil production.

He added, “It is an abnormal situation, but it is well within control. We were able to recover some of our production and build back confidence so that investors could bring in their money.

"We are also doing global advocacy to governments and institutions because stolen oil has to be taken to the market.”

Organised by S&P Global, the conference has grown in recent years to accommodate new energy technologies and climate issues. The 2024 conference is expected to have participants from over 90 countries and will feature 1,400 speakers.

Under the theme “Multidimensional Energy Transition: Markets, Climate, Technology and Geopolitics” the CERAWeek 2024 will explore “strategies for a multidimensional, multispeed and multifuel energy transition,” as the global energy industry tries to respond to, and offer insight into the roadmap towards, growing demand for emissions reductions and moving towards cleaner forms of energy.

BEB