Morocco-Nigeria Gas Pipeline Project Gains Momentum Amid European Energy Crisis

This is what Mohamed H’Midouche, a former banker, has indicated, who has returned to the challenges of this mega-project and the level of progress of the project.

In an interview with L’Opinion, the expert explained that the first phase of the studies was completed in 2020. The second phase of the studies is scheduled for this year, specifying that they have been largely financed by Morocco and Nigeria, the rest jointly financed by the Islamic Development Bank and the OPEC Fund (OFID).

The project will see an acceleration upon completion and validation by all stakeholders of the ongoing studies, he said, adding that once completed, the countries concerned will consult to determine the best strategy to adopt in order to ensure the financing of the gas pipeline construction project with the players who will be responsible for operating the gas pipeline and marketing the gas that will be transported from Nigeria to Morocco and even to Europe.

With a total cost of $25 billion, this pipeline is a project that will not face financing difficulties, H’Midouche stressed, adding that several factors are in its favor. He cited the commitment of the two African powers and the support of ECOWAS.

Moreover, he said, the Islamic Development Bank and the OPEC Fund financing the feasibility studies already have on their side other regional or international donors, such as Moroccan and West African commercial banks operating in Morocco and the region and major international oil and gas companies, to participate in the financing of this mega-project.