The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari, has announced that the Final Investment Decision (FID) on the Nigeria-Morocco Gas Pipeline (NMGP) Project will be made in December 2024. Kyari made this disclosure during a leadership dialogue session at the ongoing CERAWeek Conference in Houston, United States.
Kyari emphasized the need for a differentiated approach to achieving energy transition across the African continent, noting the diverse geographical and energy availability challenges faced by countries, particularly in sub-Saharan Africa. He underscored the importance of addressing energy security before transitioning to cleaner energy sources, highlighting that many countries in the region struggle with energy availability and lack access to clean cooking fuels.
While acknowledging the role of renewables in closing the energy transition gap, Kyari stressed the necessity of securing funds for renewable energy projects. He emphasized that gas remains a crucial component of the transition, citing its affordability and the opportunities it presents. NNPC’s current focus, Kyari noted, is on enhancing its capacity to deliver gas to both domestic and international markets.
Kyari also provided insights into the progress of the Nigeria-Morocco Gas Pipeline Project, which aims to create a pipeline spanning 13 African countries and extending to Europe. He reaffirmed NNPC’s commitment to leveraging Nigeria’s abundant gas resources for economic development and resource management.
Highlighting the impact of the Petroleum Industry Act (PIA) 2021, Kyari outlined NNPC’s transformation into a fully commercial entity accountable to shareholders and poised for listing on the stock exchange. He also addressed efforts to combat crude oil theft and restore Nigeria’s crude oil production, citing improvements in production levels since 2022.
The CERAWeek Conference, organized by S&P Global, provides a platform for discussions on new energy technologies and climate issues. With participants from over 90 countries and featuring 1,400 speakers, the 2024 conference aims to foster dialogue on key energy challenges and opportunities.
The announcement of the FID for the Nigeria-Morocco Gas Pipeline Project marks a significant milestone in Nigeria’s efforts to harness its natural resources for economic development and energy security.
