Hamisu Muhammad
3 July 2009
Abuja — Following the agreement signed between the NNPC and Gazprom last week in Abuja, Nigeria will today host Algeria and Niger Republic to conclude the Tran-saharan Gas Pipeline project agreement.
Source at the Petroleum Ministry told Daily Trust yesterday that the Algerian Minister of Petroleum and his counterpart from Niger Republic will arrive Abuja today for the tomorrow's meeting.
He said the meeting may conclude agreement on the 4,000km-long pipeline project that cuts across the three countries.
Analysts believed that key issue that delayed the agreement was finance. Sources told Daily Trust that with the Gazprom deal and the emergence of the Nigaz Energy Limited the projects will kick start soon.
Part of the Memorandum of Understanding signed between Nigerian National Petroleum Corporation and the Gazprom is to fast-track the pipeline project which has great potentials for the countries and a ready market in Europe.
It was estimated that the projects will cost about $13 billion, including pipeline and processing terminals, and is expected to be completed by 2015.
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