ABUJA, June 1 (Reuters) – The development of a brand new fuel pipeline from Africa to Europe moved a step nearer on Wednesday after Nigeria gave the go forward to its state-oil agency NNPC to signal a memorandum of understanding with West African regional physique ECOWAS.
The nod comes as African fuel provides to Europe develop in significance with the Ukraine disaster casting doubt on Russian power exports. Algeria has already agreed to lift its provide to Italy.
Nigeria and Morocco signed a three way partnership in 2016 to assemble the pipeline which can carry fuel to 15-West African international locations and thru Morocco to Spain and Europe, junior oil minister Timipre Sylva stated at a cupboard assembly in Abuja whereas presenting the request for approval.
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“We’re nonetheless on the front-end engineering design,” Sylva stated, after which the fee and the funding of the pipeline could be decided. He didn’t say when development would start, nor be accomplished.
Nigeria and Morocco stated final 12 months that the pipeline might be 5,660 km (3,517 miles) lengthy, and that development might be in phases overlaying 25 years. They’ve launched feasibility research with a plan to construct the pipeline each onshore and offshore.
The mission, which has been touted as conducive to financial integration in West Africa, would additionally add to the community of present fuel pipelines carrying provides to Europe through the Mediterranean Sea.
Wednesday’s cupboard was chaired by Vice President Yemi Osinbajo, who’s searching for the ruling get together’s ticket to exchange President Muhammadu Buhari, who is because of step down subsequent 12 months after serving two full phrases. Buhari is on a go to to Spain.
