Nigeria Approves Proposal for Gas Pipeline Project to Morocco

Gas pipeline project between Nigeria and Morocco (Africa Report magazine)
Gas pipeline project between Nigeria and Morocco (Africa Report magazine)
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Nigeria Approves Proposal for Gas Pipeline Project to Morocco

Gas pipeline project between Nigeria and Morocco (Africa Report magazine)
Gas pipeline project between Nigeria and Morocco (Africa Report magazine)

The Nigerian government on Wednesday approved a proposal for the construction of a gas pipeline connecting Nigeria and Morocco.

Nigeria's Federal Executive Council at a weekly meeting approved a proposal presented by the ministry of petroleum resources and directed the state-run Nigerian National Petroleum Corporation (NNPC) to execute a Memorandum of Understanding with the Economic Community of West African States (ECOWAS) for the project, said Timipre Sylva, minister of state for petroleum resources, at a press briefing in Abuja.

Sylva highlighted that the ECOWAS-coordinated project was still in the planning and engineering design stages.

He said the gas pipeline is expected to take gas to a dozen West African countries and Morocco, and through Morocco to Spain and other European countries.

The enormous gas pipeline project between Nigeria and Morocco, whose feasibility study began in May 2017 at a cost of several billion dollars, was inaugurated in 2016 during King Mohammed VI's official visit to Abuja.

The deal was inked on June 10, 2018, during Nigerian President Muhammadu Buhari's visit to Rabat.



Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
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Escalating Hormuz Tensions Drive Up Middle East War Risk Insurance Costs

A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER
A container ship sails on the Strait of Hormuz, as seen from Ras Al Khaimah, United Arab Emirates, 23 June 2025. EPA/ALI HAIDER

War risk insurance premiums for shipments to the Middle East Gulf have jumped to 0.5% from around 0.2-0.3% a week ago after US airstrikes on Iran’s nuclear facilities and growing risks to the critical Strait of Hormuz, insurance sources said on Monday.

The cost of a seven-day voyage is based on the value of the ship and the increase will add tens of thousands of dollars each day in additional costs.

While underwriters typically price risk and rates individually, the current 0.5% level reflected rates on Monday, the sources told Reuters and The Insurer, which is part of the Thomson Reuters group.