OPEC to finance part of the pipeline linking Nigeria to Morocco

Morocco and Nigeria manage to give new impetus to the trans-African gas pipeline project. In this search for funds to try to finance what is already considered a mega-project, the Organisation of Petroleum Exporting Countries (OPEC) will finance 14.3 million dollars for the development of the plan, which translates into 13.5 million euros.

This funding is expected to go towards the second phase of the project's development. The pipeline would link Morocco to Nigeria via an undersea infrastructure that would run along the West African coast and reach Europe. OPEC would be in charge of providing this new financing for what would be a preliminary study, according to the Moroccan Ministry of Economy and Finance in a press release.

The project, which would cover a total of 7,000 kilometres and some thirteen countries, "aims to become a catalyst for economic development in the northwest African region", in response to the cessation of Algerian gas exports after Algeria decided to unilaterally break diplomatic relations with Morocco.

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