RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Energy

Nigeria, Algeria and Niger Sign MoU for the Trans-Saharan Gas Pipeline

Rate Captain by Rate Captain
July 29, 2022
in Energy
Reading Time: 2 mins read
A A
0
Nigeria, Algeria and Niger Sign MoU for the Trans-Saharan Gas Pipeline
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Having held talks last month on the revival of a decades-old project to pipe gas across the Sahara,- Nigeria, Algeria, and Niger have signed a memorandum of understanding to build a natural gas pipeline across the Sahara desert.

The Ministry of Petroleum Resources, Nigeria, took to its official Twitter account to make the announcement.

AlsoRead

DisCos Collect N603.64 Billion in Q2 Despite Lower Power Offtake

Dangote Refinery Lifts Petrol Output as Nigeria’s Fuel Imports Drop Sharply

Dangote Lowers Petrol Price to N1,325 a Litre Nine Days After N85 Increase

The three African countries met in June to commence the decades-old talks on fast-tracking the completion of the multi-billion project.

The project will create the infrastructure needed to take gas directly to the European market, thereby creating a solution to the infrastructural problems encountered in taking gas to the market.

The Trans-Saharan gas pipeline is an estimated $13 billion project that will start from Nigeria through Niger and end in Algeria, where it will connect to existing pipelines that run to Europe. After completion, the pipeline would send up to 30 billion cubic meters per year of gas supplies to Europe.

The commencement of this gas project gives the European Union a sign of hope as the bloc is seeking alternative sources to make up for Russia’s supply cuts. The EU also anticipates that Russia will completely shut off its gas supplies to Europe as a way to get back at the west after receiving sanctions over its invasion of Ukraine.

According to Reuters, “the revival comes at a strategic time, as the European Union seeks to wean itself off Russian gas following Russia’s invasion of Ukraine, and is seeking alternative sources.”

 

What You Need to Know

  • The pipeline which will transport gas over 4000 km will not only allow Europe to diversify its sources of natural gas supply but also allow several African states to access this high-value energy source, according to Reuters.
  • The Trans-Saharan gas pipeline was first proposed more than 40 years ago and an intergovernmental agreement was signed between the countries in 2009. In February 2022, Nigeria, Algeria, and Niger signed an agreement to restart the development of the project to supply European markets via pipeline connections in Algeria.
  • Nigeria also took steps last month to move forward on the long-awaited Nigeria-Morocco Gas Pipeline, which would go through West Africa and Morocco to Europe. The project was proposed in a December 2016 agreement between the Nigerian National Petroleum Corporation (NNPC) and the Moroccan Office National des Hydrocarbures et des Mines (National Board of Hydrocarbons and Mines) (ONHYM).
Previous Post

Naira Gains at the Investors and Exporters (I&E) Window as Liquidity Rises to $129.13 Million

Next Post

Zelenskyy Says Ukraine Ready to Export Grain, Port Awaits Signal for Shipment

Related News

Nigeria Exports Electricity Worth N23bn as Local Consumers Suffer Outages.

DisCos Collect N603.64 Billion in Q2 Despite Lower Power Offtake

by Victoria Attah
October 5, 2026
0

Electricity distribution companies recovered N603.64 billion from customers in the second quarter of 2026 even as the volume of power...

Debunking the Fuel Scarcity Myth and Its Impact on Financial Wellness

Dangote Refinery Lifts Petrol Output as Nigeria’s Fuel Imports Drop Sharply

by Akpan Edidong
September 29, 2026
0

Nigeria’s domestic refineries processed 683,000 barrels of crude oil per day in August 2026, a 16.75 per cent increase from...

Oil Marketers Dismiss Claims of Dangote Refinery Selling Fuel in Dollars

Dangote Lowers Petrol Price to N1,325 a Litre Nine Days After N85 Increase

by Akpan Edidong
September 22, 2026
0

Dangote Petroleum Refinery has reduced the ex-gantry price of Premium Motor Spirit by N25 a litre to N1,325. The cut...

Oil Prices Reach $90 Following Supply Reduction by Saudi Arabia and Russia.

Brent Falls to About $101.71 and WTI Drops Below $100 as US-Iran Diplomacy Hopes Rise

by Akpan Edidong
September 21, 2026
0

Brent crude eased to about $101.71 a barrel while US West Texas Intermediate slipped below $100 as investors assessed renewed...

Next Post
Zelenskyy Says Ukraine Ready to Export Grain, Port Awaits Signal for Shipment

Zelenskyy Says Ukraine Ready to Export Grain, Port Awaits Signal for Shipment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

First Bank, Ecobank, 4 Others Generate N891bn from Loan to Customers in H1 of 2023

OPay Estimates 57.4% Share of Nigeria’s Digital Loan Disbursements in 2025

October 12, 2026
Senate Committee Frowns at N17 Trillion Loss from Tax Waivers, Urges FIRS Reform

States and FCT Collect N2.64 Trillion in PAYE as Payroll Taxes Surge

October 12, 2026

Popular Story

  • Nigeria To Strengthen Economic Ties With Tanzania

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs Lifts 2026 Oil Price Forecasts, Sees Brent Averaging $64 for the Year and $60 in Q4

    0 shares
    Share 0 Tweet 0
  • Volkswagen Profits Soar Despite Diesel Scandal

    0 shares
    Share 0 Tweet 0
  • CBN Reopens OMO Market to Retail Investors, Raising Pressure on Weak Equities

    0 shares
    Share 0 Tweet 0
  • China Forgives 23 Interest-free Loans to 17 African Countries 

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>