Rabat – Following interest shown by the United States, it has been reported that the UAE plans to co-fund a $25 billion initiative to construct the Morocco-Nigeria gas pipeline.
Energy Minister Leila Benali made the announcement recently, highlighting that the project has garnered backing from various international organizations, including support from the UAE.
“In terms of financing, the initiative has received endorsements from the IDB, OPEC Fund, EIB, and the UAE…it will traverse 15 African nations,” she stated.
On Tuesday, the minister reiterated that Morocco is making significant strides toward becoming a hub for renewable energy in the region.
She emphasized that Morocco is dedicated to advancing renewable energy, localizing technological advancements, and establishing local supply chains that foster job creation. Minister Benali also remarked that the nation has considerable potential to produce green hydrogen by-products such as methanol and ammonia, which could facilitate international shipping operations at costs lower than liquefied natural gas.
Morocco has been focused on enhancing and diversifying its gas resources for several years.
In April, the country initiated an action plan, revealing plans to issue a tender for the development of the first phase of the natural gas terminal in Nador.
As part of its strategy to bolster energy resources, Morocco is also collaborating with Nigeria on the ambitious $25 billion gas pipeline project, which aims to connect a minimum of 13 African countries and supply them with gas.
The Moroccan section of the pipeline will stretch over 1,672 kilometers, linking Nigerian gas supplies to Europe.
Alongside the UAE, the United States has also shown interest in participating in the project.
Voice of Naija cited Nigeria’s Minister of Finance, Wale Edum, in April, mentioning that he had discussions with Nigeria’s Central Bank Governor Olayemi Gardoso and the director of international economic relations, along with representatives from the US State Department.
“Key areas of focus include U.S. interest in investments in Nigeria’s natural gas sector, especially the Nigeria-Morocco Gas Pipeline, considering the country’s abundant gas reserves,” the minister remarked.