Addis-Ababa, Ethiopia – Nigeria has mobilised $700 million for the completion of Nigeria-Algeria gas pipeline project, Nigerian President Goodluck Jonathan said on Wednesday in Addis Ababa.
The announcement was made while presenting a report on the status of the Trans-Saharan gas pipeline project at the 30th meeting of the NEPAD Heads of State and Government Orientation Committee, reports News Agency of Nigeria (NAN).
He said the immediate focus for Nigeria was to connect major gas supply sources in the Niger Delta through pipeline infrastructure that traverses the northern half of the country and deliver gas to the Nigeria-Niger border.
The Nigerian National Petroleum Corporation (NNPC), executor of this project has completed the concept design for the pipeline, the President said.
Front end design of the pipeline would be completed by the end of the third quarter of 2014, which will be followed closely by major construction activities on the Trans-Nigeria segment. The segment is expected to be complete by 2018,
The News Agency of Nigeria reports that the $20 billion project, when completed will transport about 30 billion cubic metres of natural gas from Warri through Niger Republic to Algeria and to Spain and Europe.
The gas pipeline when completed will be operated by Nigeria’s NNPC and Sonatrach of Algeria. The two companies will own 90 percent share in the project while national oil company of Niger Republic, SONIDEP, will hold ten per cent equity.