ABUJA, Aug 15 (Reuters) – Nigeria and Equatorial Guinea have signed an agreement to establish and operate a gas pipeline, according to a statement released by Nigerian presidential spokesperson Ajuri Ngelale on Thursday.
Thank you for reading this post, don't forget to subscribe!The agreement was finalized during Nigerian President Bola Tinubu’s three-day visit to Equatorial Guinea, where he met with President Teodoro Obiang Nguema Mbasogo. The leaders discussed a range of issues, including employment, conflicts, and food security.
The gas pipeline project, which Nigeria and Morocco initially agreed to in 2016, aims to promote regional integration, enhance energy security, and provide African gas with an export route to Europe. Supported by the Economic Community of West African States (ECOWAS), the $25 billion project will have a capacity of 30 billion cubic meters per year and will be completed in three phases as it connects to existing infrastructure.
The newly signed agreement with Equatorial Guinea covers legislative and regulatory measures for the pipeline’s establishment and operation, the transit of natural gas, ownership of the pipeline, and general principles.
President Mbasogo praised the deal as a strategic step toward Africa’s development and the continent’s aspiration to secure a permanent seat on the United Nations Security Council.
