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Thursday, January 30, 2014
The Nigerian/Algerian multi-billion pipeline project, the Trans-Saharan Gas Pipeline, just saw a bit of progress with the announcement that Nigeria was mobilizing funds for its completion. At the meeting of the NEPAD Heads of State and Government Orientation Committee in Addis Ababa, Nigeria’s president Goodluck Jonathan represented by Acting Minister of Foreign Affairs Viola Onwuliri, announced that Nigeria had mobilized $700 million to support the completion of the gas pipeline project.
Nigeria’s immediate focus is to connect major gas supply sources in the Niger Delta region through pipeline infrastructure that traverses the northern half of the country and delivers gas to the Nigeria/Niger border.
“We have raised $450 million in Eurobonds and an additional direct equity contribution of about $250 million in support of this project. NNPC, which is the executor of this project has completed the concept design for the pipeline, which is an important milestone since I last provided an update on this project to the committee,” Jonathan said.
The report by the president noted that work had begun in the acquisition of Rights of Way survey of key segments of the pipeline, while work on the EIA study of the pipeline would soon commence.
Jonathan informed the NEPAD meeting, chaired by President Macky Sall of Senegal, that the front end design of the pipeline would be completed by the end of Q3.
“This will be followed closely by major construction activities on the Trans-Nigeria segment. It is our expectation and aspiration that work on the Trans-Nigeria segment will be completed, as planned, by 2018.”
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