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Business News of Saturday, 17 September 2022

Source: guardian.ng

Nigeria-Morocco gas pipeline project will create wealth - NNPCL boss

Mele Kyari Mele Kyari

The Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd, Mele Kyari, has said that the Nigeria-Morocco Gas Pipeline Project will create wealth, and improve the standard of living of countries within the African region.

Speaking yesterday during the signing ceremony of the Project’s Memoranda of Understanding among NNPC, ONHYM (the National Office of Hydrocarbons and Mines of Morocco) and ECOWAS; NNPC, ONHYM and SMH; and NNPC, ONHYM and PETROSEN in Morocco, Kyari said the gas pipeline project would also help in the mitigation against desertification and other benefits that will accrue as a result of reduction in carbon emission.

He described the event as an important milestone in the project, as it reaffirms the commitment of stakeholders to deliver on it.

Kyari explained that NNPC is well positioned to progress the project by leveraging on its experience and technical capabilities ranging from gas production, processing, transmission and marketing as well as our vast experience in executing major gas infrastructure projects in Nigeria.

From inception of the project to this stage, Kyari said concerted efforts have been made by the Nigerian and the Kingdom of Morocco, which led to the very commendable achievements recorded.

He expressed appreciation to His Royal Majesty, King Mohammed VI of Morocco and His Excellency, President Muhammadu Buhari for entrusting NNPC Ltd with this strategic project.

He said, “as you are aware, our countries stand to benefit immeasurably from the execution of the project which extends beyond the supply of gas to energise the countries along the route.

“Some of the benefits include, creation of wealth and improvement in standard of living, integration of the economies within the region, mitigation against desertification and other benefits that will accrue as a result of reduction in carbon emission.

“I am glad to say that NNPC is well positioned to progress the project by leveraging our experience and technical capabilities ranging from gas production, processing, transmission and marketing as well as our vast experience in executing major gas infrastructure projects in Nigeria.”

“On our part, NNPC Limited will facilitate the continuous supply of gas and provide other enablers such as the required land for the first compressor station for the pipeline to be deployed in Nigeria which is among the thirteen stations earmarked along the pipeline route.

“On behalf of the Federal Government of Nigeria, I would like to thank you all as we continue to strengthen our partnership for the benefit of our countries.”

The Nigeria-Morocco Gas Pipeline (NMGP) Project is an initiative of the Federal Government of Nigeria and the Kingdom of Morocco and was conceived during the visit of King Mohammed VI of Morocco to Nigeria in December 2016.

The NMGP Project is aimed at monetization of Nigeria’s abundant natural gas resources, thereby generating additional revenue for the country, diversification of Nigeria’s gas export routes, and elimination of gas flaring.