Speaking during a panel under the theme “a new vision to accelerate production and investment in a context of energy transition”, within the framework of the second edition of the Conference of member countries of the sedimentary basin “MSGBC Oil, Gas & Power”, organized by Energy Capital & Power (Ecp), Benkhadra pointed out that the Morocco-Nigeria gas pipeline, carried by the Vision and Will of two Heads of State, HM King Mohammed VI and President Muhammadu Buhari, in service of the economic and social, industrial and energy development of Africa, is “a structuring project with multiple objectives”.
This large-scale project “will contribute to the emergence of an integrated North-West African zone, to the acceleration of West Africa’s access to energy and also the acceleration of electrification for the benefit of the populations”, she added.
The Morocco-Nigeria gas pipeline also aims to create a competitive regional electricity market, the exploitation of clean energy, the contribution to the industrial and economic development of all the countries crossed through the development of several sectors such as agriculture, industry, mining, the reduction of flaring, as well as the export of gas in Europe, specified Benkhadra during this panel which brought together the heads of regional national oil companies for a sharing of experiences on the current challenges and opportunities and discuss strategies to strengthen regional collaboration and integration.
In this regard, Benkhadra affirmed that this megaproject, which crosses 13 countries on the Atlantic coast and will include 3 landlocked countries, will have a direct positive impact on more than 340 million inhabitants, noting that all the countries crossed will be integrated into study and development of this project.
In addition, it will create wealth for the countries and the neighboring populations, creating a decisive momentum and leading to the emergence and development of parallel projects, she noted.
She added that “discussions have been held with Ecowas to ensure synergy with the infrastructure in the region, for this purpose the extension of the WAGPI (West African Gas Pipeline linking Nigeria to Ghana) towards the Ivory Coast will be included. “, emphasizing that producing countries will also be able to use this pipeline for their own consumption and export, citing the cases of Senegal and Mauritania.
On the other hand, the Director General of ONHYM considered that Africa can be a model of sustainable development, with renewable energies and gas, noting that this continent has immense potential in renewable energies and gas. which remains untapped.
“Resources are available and diversified and renewable energies offer real prospects for low-carbon electricity development”, she argued, noting that it is essential to facilitate the financing of infrastructure and the development of win-win partnerships. .
Africa needs huge investment for its energy sector to generate social and economic development, Ms. Benkhadra explained, indicating that “Total climate finance is estimated between USD 4,760 and 4,840 billion over the period 2022-2050, which represents annual flows of 163.4 to 173 billion USD”.
The “MSGBC Oil, Gas & Power” Summit, organized on September 1 and 2 by Energy Capital & Power (Ecp), an investment platform in Africa for the energy sector, is held under the theme “the future Natural Gas: Growth through Strategic Investment and Policy Development”, with the participation of representatives from African countries including Morocco.
The conference brings together delegates from member countries of the sedimentary basin, namely Gambia, Guinea-Bissau, Guinea, Mauritania and Senegal, as well as representatives from other African countries such as Morocco and Côte d’Ivoire and many foreign investors from the United States, Australia, Europe, Asia and the Middle East.