Oil & Gas $25bn Morocco-Nigeria gas pipeline gains momentum By Pramod Kumar May 31, 2024, 4:28 AM World Bank/Riccardo Savi Morocco’s energy minister Leila Benali said work is underway to determine the best route for the Nigeria pipeline Morocco’s energy minister has said studies on a $25 billion gas pipeline with Nigeria, which will be backed by investment from the UAE, are almost finished. Work is underway to determine the best route for the pipeline, Morocco World News, a daily news outlet, reported, quoting Leila Benali. The front-end engineering design (Feed) studies cover the project’s scope, budget, schedule and risk assessment, providing guidance for detailed engineering and construction. NewsletterGet the Best of AGBI delivered straight to your inbox every week She added that evaluation and field studies, as well as environmental and social impact assessments, on the project are being conducted. Morocco, Senegal and Mauritania will participate in the first phase of the three-phase mega pipeline project, the report said. Planned in 2016, the project — set to be the second-longest pipeline in the world — has seen Morocco and Nigeria sign numerous agreements in the past two years. The pipeline will span 5,600 km and cross 13 African countries, addressing the energy needs of 400 million people along the West African coast. Cost of Xlinks Morocco-UK project balloons by a third Morocco offers new incentives for green hydrogen investors Morocco gets $188m to build three desalinisation plants The mega project is expected to have an annual transportation capacity of 30 billion cubic metres, six times more than Morocco’s annual gas consumption, the minister said. In January, state-backed Nigerian National Petroleum Company said talks to deliver Nigerian gas to Morocco and Europe have intensified. Nigeria is Africa’s largest gas producer. The project has gained some traction among investors. Abu Dhabi and Morocco signed an investment cooperation agreement last December, and the UAE will participate financially and technically in the pipeline’s development. The plan received support from the Islamic Development Bank and the Opec Fund for International Development. In addition to the African pipeline, there will be a 1,700 km gas connection from Dhakia to northern Morocco, eventually linking Nigeria to Europe.
Real Estate ‘Safe’ Sharjah attracts Kuwaiti investors to $950m project The emirate of Sharjah has been praised as “safe and business-friendly” by a Kuwaiti developer who has formed a partnership to develop a AED3.5 billion ($950 million) housing project in its burgeoning local property market. Talal Al-Bahar, vice-chairman and CEO of Kuwait Real Estate Company (Aqarat), said that investors were attracted to Sharjah because of […] 12 hours ago
Aviation Riyadh Air delays launch after Boeing setbacks Riyadh Air has been forced to push back its launch date to the third quarter of 2025 after delays to deliveries from Boeing. The new Saudi airline had been scheduled to begin flying early this year. It is a blow to Saudi Arabia’s tourism ambitions to attract 150 million visits a year. Riyadh Air was founded […] 12 hours ago
Tech KKR signs a $5bn Gulf data centre deal in Dubai KKR, the American investment giant, and the data centre platform Gulf Data Hub (GDH), based in Dubai, have signed a strategic partnership to invest $5 billion in data centres serving the Gulf. A joint press release on Friday said that funds “affiliated with KKR” will also acquire a stake in GDH, although it did not […] 14 hours ago
Real Estate Eagle Hills plans Trump hotel project with Kushner The Abu Dhabi-based developer Eagle Hills and Affinity Partners, an investment firm founded by Donald Trump’s son-in-law, Jared Kushner, have agreed to build a luxury hotel and apartment complex in Serbia’s capital, Belgrade. The project, on the site of the former Yugoslav defence ministry, will feature a 175-room Trump hotel as its centrepiece, and 1,500 […] 14 hours ago