International projects: Morocco and Nigeria agree to construct a natural gas pipeline.

The Kingdom of Morocco and Federal Republic of Nigeria have agreed to jointly develop the Trans-African Pipeline, a new regional gas pipeline connecting the two countries.

The project will be funded through new collaboration between Ithmar Capital, the Moroccan sovereign wealth fund, and the Nigeria Sovereign Investment Authority (NSIA). The two funds announced the signing of a Strategic Partnership Agreement (SPA) and a Memorandum of Understanding (MOU), which will see their countries cooperate on bilateral investment for the first time in recent history.

By accelerating the electrification of the region, the Trans-African Pipeline will improve access to energy across West Africa and establish a competitive regional market for electricity.  This will help address one of the region’s most significant barriers to development, the lack of affordable energy. In addition, the project will strengthen energy exports to Europe, linking Nigerian gas to the European energy market through Morocco.

Original post: http://pipeline-news.com/morocco-and-nigeria-agree-to-build-gas-pipeline/
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