By Richard Adorsu-
NEW AFRICA BUSINESS NEWS (NABN) Accra Ghana- Gas pipeline project Memorandum of Understanding (Mou) has been signed between ECOWAS, Nigeria and the Kingdom of Morocco. The MoU attests to the commitment of
ECOWAS and all the countries crossed by the gas pipeline, to contribute to the feasibility and technical studies, the mobilisation of resources and execution of this key project.
This project, once completed, will supply gas to all the countries of West Africa and will open a new channel of export to Europe. It is a strategic project that will contribute towards improving the living standards of the population, integrating the economies in the region, decreasing the level of desertification thanks to a sustainable and reliable gas supply and a reduction in or outright end to gas flaring, among others. Sixteen countries that include fourteen ECOWAS Member States, are involved in this project. The project will also assist other countries to export their surplus natural gas: Ghana, Cote d’Ivoire, Senegal and Mauritania.
The strategic Nigeria-Morocco gas pipeline project will traverse the West African coast from Nigeria to Morocco, through Benin, Togo, Ghana, Cote d’Ivoire, Liberia, Sierra Leone, Guinea, Guinea Bissau, The Gambia, Senegal, Mauritania. In the long term, it will be connected to the Maghreb-Europe gas pipeline and to the European gas network. It will also help cater to the land-locked countries of Burkina Faso, Mali and Niger.
Sediko Douka, Commissioner, Infrastructure, Energy and Digitalisation, ECOWAS: ”We, as a regional economic community, are convinced that it is indeed a viable project, one that holds great promise, and we will spare no effort for its success. The project’s impact is far reaching because it would help ensure electricity supply in the West African region, and in the long term the export of natural gas as fuel in Europe. We have carefully monitored from beginning to end the feasibility studies at the various levels of validation, he revealed, adding that the next phase would involve the detailed design of execution, resource mobilisation and the actual construction.”
With the launch of the project, efforts will be made to attract public and private investors including multilateral or commercial banks, pension fund, insurance companies, among others.
The project will span 6,000km and cost $25 billion. The financing of the project is expected to involve several stakeholders.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent