The United Arab Emirates (UAE) has pledged support for a major pipeline project that will link Nigeria to Morocco.
Morocco’s Energy Minister, Leila Benali, announced on thursday, UAE’s support for the $25 billion project connecting both countries.
Benali added that the country has finished all feasibility and engineering studies needed for completing the pipeline. The gas pipeline called the “African Atlantic Gas Pipeline” is expected to pass through 15 African countries, enhancing the development of the region.
According to report, the distribution line will link Morocco to gas fields near Senegal, Mauritania in its first phase. The second phase will reportedly connect Nigeria to Ghana, while the third phase link the Ivory Coast to Senegal.
Also, Experts say the pipeline is a major factor in regional development, industrial growth and advanced infrastructure. Additionally, the $25 billion project will bring power to African businesses, homes and also foster economic partnerships across the region.
According to Benali, Morocco intends to become a regional leader in clean energy, with the potential to produce renewable resources. The Morocco president added that the pipeline will become the longest offshore gas pipeline in the world once completed.
According to report, both countries have signed a financial agreement and have also set up a joint venture to manage the project.
How the pipeline project draws global support, promises economic growth.
The gas line project has reportedly triggered positive reactions from other countries, showcasing interest in funding the project. Nigerian finance minister, Wale Edun, who confirmed the huge support, emphasized that it is a crucial step for economic development.
Edun stressed that the project would bring descriptive transformation to Africans and serve as energy source for European continent. He noted that the support comes following series of meetings with the Central Bank of Nigeria governor and senior officials at U.S. Department.
