Financial Energy Review
………by Victor Egbo…….
The Federal government of Nigeria has resumed discussions with Libya government over the possibility of the proposed $13 billion Nigeria-Morocco gas pipeline project passing through Libya instead of Algeria to Morocco.then to Europe.
The talks were revealed by Nigeria’s Minister of Petroleum (Gas), Rt. Hon. Ekperikpe Ekpo, during a meeting with Libya’s Minister of Oil, Dr. Khalifa AbduAlsadik, on the sidelines of the Gastech Exhibition and Conference 2024, currently taking place in Houston, USA.
Minister Ekpo stated that the proposed pipeline would originate from Nigeria and extend to Libya, enhancing energy cooperation between the two countries. In a social media update, Ekpo emphasized the strategic nature of the project, stating, “This meeting aims to strengthen energy cooperation between Nigeria and Libya.”
The Nigerian delegation at the meeting included key industry figures such as Mr. Olalekan Ogunleye, EVP Gas NNPC Ltd, Mr. Maher Giundi, International Business Advisor to the GCEO of NNPCL, and Mr. Odiong Ekanem, Technical Adviser to the Minister of State for Petroleum Resources (Gas). The Libyan team was represented by Dr. Basteet Al Ashab, Mr. Khalid Jatbi, and Mr. Yousef Al Shatwi.
This development comes as part of Nigeria’s ongoing efforts to leverage its vast natural gas reserves, which are estimated at approximately 202 trillion cubic feet (tcf), with 139.4 tcf deemed recoverable. The country is undergoing a strategic shift from oil to gas as part of its energy transition, reinforced by President Bola Tinubu’s executive orders aimed at bolstering the gas industry.
The discussions about a Nigeria-Libya gas pipeline follow a 2022 proposal by Libya’s then Oil Minister, Mohamed Aoun, suggesting that the ongoing $13 billion Nigeria-Morocco Gas Pipeline (NMGP) should pass through Libya instead of Algeria. The NMGP, which will span 5,600 km and pass through 13 African nations, aims to transport Nigerian gas to Europe and other African markets.
As Africa’s leading oil and gas producers, both Nigeria and Libya stand to benefit from closer energy collaboration, which would contribute to the continent’s energy security and economic development.
