🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Algeria, Niger, Nigeria revive talks on Saharan gas pipeline

Published 22/06/2022, 21:31
© Reuters.

NIAMEY (Reuters) - Algeria, Niger and Nigeria held talks this week on the revival of a decades-old project to pipe gas across the Sahara, a potential opportunity for Europe to diversify its gas sources.

The three countries have set up a task force for the project and designated an entity to update the feasibility study, said Niger's oil ministry in a statement on Wednesday, following a two-day meeting in Nigeria's capital, Abuja.

The Trans-Saharan gas pipeline is an estimated $13 billion project that could send up to 30 billion cubic metres a year of supplies to Europe.

The idea was first proposed more than 40 years ago and an agreement signed between the countries in 2009, but progress stalled.

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.

"(The pipeline) should allow Europe to diversify its sources of natural gas supply but also allow several African states to access this high value energy source," said the statement.

With a length of 4,128 kilometres (2,565 miles), the pipeline would start in Warri, Nigeria, and end in Hassi R'Mel, Algeria, where it would connect to existing pipelines that run to Europe.

Nigeria also took steps this month to move forward on another long-awaited pipeline, which would go through West Africa and Morocco to Europe.

Energy ministers of the three countries will meet again in Algiers at the end of July to validate the proposals of the newly installed task force, Niger's statement said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.