Nigeria-Morocco gas pipeline: OPEC Fund to finance second phase of studies

By Uthman Salami

The Organisation of Petroleum Exporting Countries Fund for International Development, according to information from Morocco, is expected to finance $14.3 million for the second phase of the studies in the submarine Nigeria-Morocco gas pipeline project.

A statement by the Moroccan Ministry of Finance last week said the agreement was signed by the Moroccan Finance and Economy Minister Nadia Fettah and the General Director of the OPEC Fund Abdulhamid Alkhalifa.

Recall that Nigerian NewsDirect had reported that the Australian company WorleyParsons has been awarded with the second phase of the studies, which is progressing in accordance with the initial project planning.

Early this year, the Islamic Development Bank signed an agreement with Morocco to provide $15.45 million to the Nigeria-Morocco gas pipeline studies.

This gas pipeline project would cover 7,000 km long through 13 West African countries, and extend to Europe, according to WorleyParsons.