While Europe is mired in a geostrategic crisis linked to gas exports with the United States and Russia and Algeria has cut off its shipments, Morocco could take advantage of its gas pipeline project with Nigeria to reduce its energy deficit and its dependence.
This was indicated by Mohamed H'Midouche, a former banker, who returned to the challenges of this megaproject and the level of progress of the project.
In an interview with L'Opinion, the expert explained that the first phase of the studies was completed in 2020. The second phase of the studies is planned for this year, specifying that they were largely financed by Morocco and Nigeria, the rest financed jointly by the Islamic Development Bank and the OPEC Fund (OFID).
With a total cost of 25 billion dollars, this gas pipeline is a project that will not have difficulties in financing, H'Midouche stressed, adding that several factors militate in its favor. He cited the commitment of the two countries, African powers, and the support of ECOWAS.
In addition, he indicated, the Islamic Development Bank and the OPEC Fund, which are financing the feasibility studies, already have the support of other regional or international donors, such as Moroccan commercial banks and West African companies operating in Morocco and in space and large international companies. majors in the gas sector, to participate in the financing of this megaproject.