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The construction of a new gas pipeline from Africa to Europe moved a step closer on Wednesday after Nigeria gave the go ahead to its state-oil firm NNPC to sign a memorandum of understanding with West African regional body ECOWAS.
The nod comes as African gas supplies to Europe grow in importance with the Ukraine crisis casting doubt on Russian energy exports. Algeria has already agreed to raise its supply to Italy. Nigeria and Morocco signed a joint venture in 2016 to construct the pipeline which will carry gas to 15-West African countries and through Morocco to Spain and Europe, junior oil minister Timipre Sylva said at a cabinet meeting in Abuja while presenting the request for approval… More details through: https://www.reuters.com/article/idUSL8N2XO4Q8 https://www.thecable.ng/fec-approves-nnpcs-deal-with-ecowas-for-construction-of-nigeria-morocco-gas-pipeline
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Nigeria Sovereign Investment Authority (NSIA) says it has signed a deal with OCP Group, a Moroccan company, to build a fertiliser plant.
Uche Orji, managing director and chief executive officer (CEO), NSIA, said this on Thursday at a press briefing on the presidential fertiliser initiative (FPI) in Abuja. OCP Group is a Moroccan state-owned phosphate rock miner, phosphoric acid manufacturer, and fertilizer producer… More details through: https://www.thecable.ng/nigeria-morocco-sign-deal-to-build-fertiliser-plant-in-akwa-ibom The Nigerian National Petroleum Company Limited (NNPC) and Sahara Group, have taken delivery of two 23,000 CBM Liquefied Petroleum Gas (LPG) vessels at the Hyundai MIPO Shipyard in Ulsan, South Korea, with plans to add 10 vessels in 10 years to enhance Africa’s transition to cleaner fuels.
The new vessels, MT BARUMK and MT SAPET have increased NNPC and Sahara Group’s joint venture investment to over $300million, approaching the JV’s $1billion gas infrastructure commitment by 2026. The fleet previously comprised MT Sahara Gas and MT Africa Gas. All the four vessels were built by Hyundai MIPO Dockyard, a foremost global manufacturer of mid-sized carriers… More details through: https://independent.ng/energy-access-nnpc-sahara-group-invest-300m-in-gas-carriers/ Nigeria and other African nations are forecast to increase their gas output from about 260 Billion Cubic Meters (BCM) in 2022 to as much as 335 BCM by the end of the decade.
Europe is now considering how gas-rich African nations can be helped to scale up production and exports in the years to come. The EU Ambassador to Nigeria, Samuela Isopi, together with France, Italy, Portugal and Spain’s ambassadors had last month met with the management of the Nigerian National Petroleum Company (NNPC)Limited to discuss developments in the sector… More details through: https://www.sunnewsonline.com/europe-targets-335-bcm-of-nigeria-others-gas-to-reduce-dependence-on-russia/ Nigeria’s gas revenue outpaced its earnings from crude oil, the lifeblood of Africa’s biggest economy, in the first quarter of 2022, in keeping up with a trend that first emerged in December 2020.
Data obtained from the Nigerian National Petroleum Company Limited (NNPC) showed that while crude oil exports fetched the nation $177.86 million over the three-month period, revenue from gas feedstock to Nigeria LNG Limited (NLNG) amounted to $387.72 million... More details through: https://businessday.ng/energy/oilandgas/article/nigeria-earns-twice-more-from-gas-than-oil-in-q1/ An Australian firm, Worley, has been awarded a contract to provide main front-end engineering design (FEED Phase II) services for the Nigeria-Morocco Gas Pipeline (NMGP) project. The engineering study is progressing in accordance with the initial project planning.
The NMGP is a new regional onshore and offshore gas pipeline that is intended to deliver natural gas resources of Nigeria to 13 countries in the West and North Africa as a continuation of the existing West Africa Gas Pipeline (“WAGP”) between Nigeria, Benin, Togo and Ghana. Starting from Nigeria, the 5,660 kilometers long NMGP will end at Tangiers, a Moroccan port on the Strait of Gibraltar, with a possible extension to Europe through Spain. The project is estimated to cost $25 billion and it will be completed in stages over 25 years. When completed, the over 7,000km long gas pipeline, being promoted by Office National desHydrocarbures et des Mines (ONHYM) of Morocco and Nigerian National Petroleum Corporation (NNPC) of Nigeria, will link Nigeria with Morocco, cross 11 West African countries and extend to Europe. It will be the longest offshore pipeline in the world and the second longest pipeline overall… More details through: https://www.newtelegraphng.com/gas-australian-firm-to-feed-nigeria-morocco-25bn-pipeline-project/ Nigeria, Africa’s most populous country, saw its fertiliser imports surge by 65 percent in 2021 as demand for the commodity rose.
Data from the International Fertilizer Development Centre show that the country imported 706,922 metric tons (MT) of fertiliser in 2021, up from the 429,303 MT imported in 2020, mainly diammonium phosphate (DAP), muriate of potash (MOP), and granular ammonium sulphate… More details through: https://businessday.ng/business-economy/article/nigerias-2021-fertiliser-imports-surge-65/ Nigeria raked in about $868.5m (N361.43bn at the official exchange rate of N416.15/$) from gas export and N13.36bn from domestic gas sale in 2021, an analysis of the latest gas revenue data and other monthly reports obtained from the Nigerian National Petroleum Company Limited showed.
Data from the oil firm showed that the Federal Government through NNPC garnered the funds from the sale of Natural Gas Liquids/Liquefied Petroleum Gas, as well as Nigeria Liquefied Natural Gas feedstock. It was learnt that the joint venture partners of NNPC in the gas business during the review period include Chevron Nigeria Limited, Mobil Producing Nigeria, Shell Petroleum Development Company and Total Exploration and Production Nigeria… More details through: https://punchng.com/nigeria-made-n374-8bn-from-domestic-export-gas-sale-in-2021-nnpc/ Japan’s leading business conglomerate Sojitz Corporation has acquired 25 per cent equity stake in Nigeria’s largest private sector gas distribution company, Axxela, the first major African equity investment by Sojitz.
Helios Investment Partners (Helios), the Africa-focused private investment firm, sold 25 per cent equity interest in the holding company of Axxela. Helios retains a 75 per cent majority equity interest in the company. Sojitz Corporation (Sojitz) is one of the leading conglomerate investment and trading houses listed on the Tokyo Stock Exchange… More details through: https://thenationonlineng.net/japans-conglomerate-buys-major-stake-in-nigerias-largest-private-gas-firm/ Nigeria will retain its number one position as Africa’s biggest oil producer as well as maintain the top three gas suppliers on the continent between 2022 and 2025, the African Energy Chamber (AEC), has stated.
In its Q1 2022 outlook, tagged the State of African Energy, the AEC contended that Nigeria will produce 1.46 million barrels per day (bpd) of crude oil out of the 6.35 million bpd that Africa as a whole will produce during the year. It noted that this will reaffirm the country’s position as a continental energy hub as production in the West African state peaks in 2023… More details through: https://www.thisdaylive.com/index.php/2022/03/08/report-nigeria-to-maintain-top-positions-as-africas-biggest-oil-producer-production-to-peak-in-2023/ |
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