As part of the project’s governance and in accordance with the memoranda of understanding signed among national oil companies, meetings of the Technical Committee and the Steering Committee were held on July 10-11 in Rabat to assess the project’s progress.
According to a press release from the National Office of Hydrocarbons and Mines (ONHYM), the project has already reached several key technical, environmental and institutional milestones. Detailed engineering studies were completed in 2024, survey and ESIA studies for the northern section have been completed, while those for the southern Nigeria-Senegal section are underway.
The project, designed to transport 30 billion m 3 of gas per year, will be developed through phases. A Project Company (Holding Company) will provide governance for the funding and construction phases of the Project. It will oversee three ad-hoc companies (SPVs) for each of the identified segments.
In addition, the Intergovernmental Agreement (IGA), which specifies the rights and obligations of each country, was adopted in December 2024, at the 66th ECOWAS Summit, the press release recalls.
On the sidelines of these meetings, a Memorandum of Understanding was signed between Nigerian National Petroleum Company Limited (NNPC-Nigeria), ONHYM and Togolese Gaz Company (SOTOGAZ-Togo).
This memorandum, the latest to be inked after SOTOGAZ officially joined the Project, completes the series of agreements already signed with other countries involved, the press release notes, affirming that the parties involved were delighted with the progress made and reiterated their willingness to continue their exemplary collaboration for achieving this structuring project.
Initiated by His Majesty King Mohammed VI and Nigerian President Bola Ahmed Tinubu, this project will contribute to Africa’s development, improve livelihood of its people, further integrate the economies of the sub-region and the African continent, and give Africa a new economic, political and strategic dimension, while establishing itself as a major lever for regional integration.
The project is part of the Atlantic Initiative advocated by the Sovereign, and will bear economic and social benefits for all transit countries.
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