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05 Dec 2016, Annie Tsoneva, EMIS Editor

Nigeria, Morocco eye regional gas pipeline

Nigeria and Morocco have signed a joint venture agreement to build a gas pipeline, which will connect the two nations, as well as some other west African countries and Europe, Petroleum Bazaar – PetroMag reported on Monday citing Nigeria's minister of foreign affairs as saying.

The project is aimed at setting up a competitive regional electricity market with the potential to be connected to the European energy markets, the minister, Geoffrey Onyema, added.

The deal was reached during a visit by the Morocco's King Mohammed to the Nigerian capital Abuja.

Oil and gas-rich Nigeria produces little electricity, which makes its industries noncompetitive.

Nigeria's economy, the largest in Africa, is faced with a recession due to the low oil prices. Moreover, Nigeria’s oil production has dropped after months of military attacks by militants on the country’s oil infrastructure.

No timeline or estimate of the potential value of the project were given.

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