OPEC Offers $14.3m Funding For Nigeria-Morocco Gas Pipeline

The OPEC Fund for International Development has indicated its support for Nigeria and Morocco’s ongoing massive gas project.

According to the leadership, the OPEC Fund would provide $14.3 million for the second round of studies for the submarine Nigeria-Morocco gas pipeline project.

The Moroccan Ministry of Finance confirmed the deal on Friday, saying it was signed by Moroccan Finance and Economy Minister Nadia Fettah and OPEC Fund General Director Abdulhamid Alkhalifa.

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WorleyParsons, an Australian firm has also revealed Wednesday in a statement that it has been granted the second phase of the studies, which are progressing according to the initial project planning.

It was also added that the gas pipeline project will cover 7,000 kilometers and connect 13 West African nations before reaching Europe.

In January, the Islamic Development Bank signed an agreement with Morocco to provide $15.45 million for the Nigeria-Morocco gas pipeline studies.

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