….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries

By Abdul Rahman Bangura-

Photo Credit: La Croix

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The African Landmass has 12% of the world’s oil reserves and 8% of gas supplies.

As it stands, it’s enticing billions of pounds of investment as it glances to launch over 400 oil and gas projects over the next four years.

In 2024, around £85 billion is anticipated to be invested in energy across Africa. Most of that money, £54 billion, drives into fossil fuel schemes, with the remainder financing a range of clean energy technologies.

One of the primary projects on headline, is the schedule to build a gas pipeline from Nigeria to Morocco.

The pipeline would extend for 4,350 miles and pass through thirteen countries along the Atlantic coast.

It will have a capacity of 10 billion cubic metres a year and could cost as much as £19 billion.

The pipeline has the proclivity to be extended to Spain, as a result; making it simpler for African nations to sell their gas to European markets.

Nigeria’s administration is very akin to get the project off the ground and exploit its abundant gas resources.

According to estimates from the US Energy Information Administration, the country has the world’s ninth-largest proven gas reserves.

Thus, the country flares off vast amounts of gas produced along with crude oil due to a lack of infrastructure to make use of it.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent