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NNPC To Take Final Decision On $25bn Nigeria-Morocco Gas Pipeline In December 2024

Final Investment Decision on Nigeria-Morocco Gas Pipeline Project Set for December 2024

Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), revealed at the CERAWeek Conference in Houston that the Final Investment Decision (FID) on the Nigeria-Morocco Gas Pipeline (NMGP) Project is scheduled for December 2024. Kyari emphasized the need for a differentiated approach to energy transition, particularly for African nations.

During a leadership dialogue session, Kyari highlighted the complexities of energy transition, particularly in sub-Saharan Africa where energy availability remains a pressing issue. He stressed the importance of attaining security of energy supply before transitioning to alternative energy sources, noting that a significant portion of the population lacks access to clean cooking fuels.

Kyari underscored the role of gas as a transitional fuel, citing its affordability and abundant availability in Nigeria. He emphasized NNPC’s focus on building infrastructure to deliver gas to both domestic and international markets.

One of the key projects highlighted by Kyari was the Nigeria-Morocco Gas Pipeline Project, which aims to create a pipeline spanning 13 African countries and extending to Europe. This initiative aligns with NNPC’s efforts to leverage Nigeria’s gas resources for economic development and regional energy security.

Kyari also discussed the impact of the Petroleum Industry Act (PIA) 2021 on Nigeria’s oil and gas industry, emphasizing NNPC’s transformation into a fully commercial entity accountable to its shareholders.

Addressing challenges such as crude oil theft, Kyari expressed confidence in the joint efforts of government and private security agencies to combat the menace. He noted significant improvements in crude oil production restoration, citing a rise from below one million barrels per day to 1.7 million barrels per day in 2022.

CERAWeek, organized by S&P Global, serves as a platform for global discussions on energy technologies and climate issues. The 2024 conference is set to host participants from over 90 countries and feature 1,400 speakers, highlighting its growing significance in shaping the future of the energy sector.

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