West African gas pipeline project gets a boost
Regional, Economics, 8/11/1999

The four-nation West African gas pipeline project is to receive a major boost with the signing of two agreements between Nigeria, Benin, Togo and Ghana and another agreement by the six companies forming the consortium for the gas project Wednesday in Cotonou, Benin, the African news agency PANA reported.

PANA quoted a statement by Chevron Nigeria Limited --a principal partner in the gas project-- as saying that ministers responsible for petroleum matters in the four countries are expected to sign a memorandum of understanding, while a joint venture agreement will be endorsed by the six companies involved in the consortium handling the project.

The companies in the consortium are the Nigerian Gas Company, Chevron Nigeria Limited, Shell Petroleum Development Company, Ghana National Petroleum Corporation, Societe Beninoise De Gaz and SoToGaz of Togo.

The memorandum is a follow up to the initial Heads of Agreement endorsed in Lagos on 5 September 1995 to set out a framework for the gas project, while the joint venture agreement among the six companies is a follow up to the decision reached by the consortium in August last year in Lagos to launch a private sector initiative to accelerate implementation of the project.

Under the initiative, the group jointly funded and supervised the preparation of a detailed feasibility study on the technical and commercial viability of the gas project.

The 960-km 400 million-dollars project is designed to deliver Nigerian gas to domestic and industrial consumers in Benin, Togo and Ghana.

Previous Stories:
  Turkey gets international loans to build a gas pipeline   (8/3/1999)
  Egypt: Declaring new regions available for drilling petroleum   (7/31/1999)
  Italian oil group sings agreement with Libyan government   (7/28/1999)

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