Nigeria, Niger and Algeria to launch investor campaign for gas plan

Jun 12, 2007 02:00 AM

Nigeria, Niger and Algeria will launch a campaign to drum up investor interest in a multibillion dollar project to pipe Nigerian gas to Europe across the Sahara. International donors, banks and potential clients and investors have been invited to a conference in Brussels to hear a briefing on the ambitious plan by UK consultancy Penspen/IPA.
The project, with capital costs estimated at $ 10 bn for the pipeline and $ 3 bn for the gathering centres, would send up to 30 bn cm a year of gas to Europe via a 4,128 km (2,580 mile) pipeline starting in 2015.

The conference will also be attended by European Union (EU) Energy Commissioner Andris Piebalgs, who has welcomed the venture as being in the interests of European energy security and the environment and of Africa's development. Piebalgs has also said the EU might help finance it.
The three countries have said that a report they commissioned by Penspen/IPA has found that the project is feasible technically and economically.

The project islooking for support from European governments and gas consumers, which are concerned about falling domestic supplies and increasing reliance on gas piped in from Russia.
The gas would cross the Mediterranean via a growing network of pipelines that now take Algeria's gas to increasingly gas-dependent customers on the northern shores of the waterway.

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