NNPCL Targets New $8bn International Gas Pipeline
The Nigerian National Petroleum Corporation Limited (NNPCL) announced on Thursday that it would be constructing another international gas pipeline worth about $8bn.
The proposed pipeline would go through Niger Republic to Algeria, and then to Europe.
It would be a second major gas pipeline project for the NNPCL, which is also currently working on the $25bn Nigeria-Morocco gas pipeline.
NNPCL Group Chief Executive Officer, Mele Kyari made this known during a panel session at the ongoing 8th Organisation of Petroleum Exporting Countries International Seminar in Vienna Austria.
According to him: “We are building a $25 billion pipeline from Nigeria to Morocco through 11 West African countries. There’s another pipeline we are planning to build through Niger Republic, and through Algeria into Europe also, and the potential is between $7 billion to $8 billion.”
Furthermore, Kyari revealed that the NNPCL is also focused on expanding their current Liquefied Natural Gas (LNG) facility with an additional train.
The expansion will effectively double the capacity of the existing facility, providing a substantial increase in availability to the market.
Highlighting the commitment to gas development, Kyari emphasized that the NNPCL is actively pursuing several other gas projects aimed at deepening gas penetration not only in Nigeria but also in other nations.
What you should know
The new gas pipeline project is a sign of the growing importance of natural gas in the African energy market.
Natural gas is a cleaner-burning fuel than coal or oil, and it is becoming increasingly popular as a source of energy for power generation and industrial use.
The NNPCL’s new project is expected to help to boost gas exports from Africa and to meet the growing demand for natural gas in Europe.