The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has announced that the Final Investment Decision for the $25 billion Nigeria-Morocco Gas Pipeline Project is set to be made in December 2024. This exciting development was revealed during a Leadership Dialogue Session at the prestigious CERAWeek Conference in Houston, United States.
Kyari highlighted that the project, which is currently in an advanced stage, aims to create a pipeline spanning thirteen African countries all the way to Europe. The focus of NNPC Ltd is to enhance its capacity to deliver gas not only to the domestic market but also beyond. As a country rich in gas resources, Nigeria is determined to leverage its abundant natural gas reserves to meet its energy needs.
In his address, Kyari emphasized the importance of gas as the most cost-effective way to achieve energy transition. He underscored the significant opportunities that gas presents, noting ongoing efforts to develop trunklines and other gas infrastructure to supply gas to various networks.
Furthermore, Kyari highlighted the proactive measures being taken to combat crude oil theft in Nigeria. Through collaborative efforts between the government and private security agencies, there have been notable improvements in restoring the nation’s crude oil production. This has instilled confidence in investors and led to the recovery of production levels.
As the global push for cleaner energy sources gains momentum, Kyari advocated for a tailored approach to energy transition in Africa. He acknowledged the unique challenges faced by countries in sub-Saharan Africa, where energy availability is a pressing issue before transitioning to cleaner fuels. Kyari stressed the importance of addressing energy security and supply gaps to pave the way for a successful energy transition.
The CERAWeek Conference, organized by S&P Global, is set to host participants from over 90 countries in 2024. With a focus on “Multidimensional Energy Transition: Markets, Climate, Technology, and Geopolitics,” the conference will delve into strategies for navigating the evolving energy landscape and meeting the growing demand for emissions reductions. It promises to offer valuable insights into the roadmap towards cleaner energy solutions in a rapidly changing global energy industry.
