NNPC seeks investors for major trans-African gas pipelines

What happened

State-backed Nigerian National Petroleum Company is actively seeking capital for the proposed Nigeria-Morocco Gas Pipeline, according to Zawya reporting. Speaking at the ADIPEC conference in Abu Dhabi, CEO Bashir Bayo Ojulari noted that discussions are underway with international partners, including the United Arab Emirates-based firm ADNOC. Zawya reported that the initiative, also known as the African Atlantic Gas Pipeline, is co-managed alongside Morocco's Office National des Hydrocarbures et des Mines.

The infrastructure project is designed to span approximately 6,800 kilometres, routing through thirteen coastal states belonging to the Economic Community of West African States, alongside Mauritania, and providing connections to landlocked Sahel nations. Zawya noted that the infrastructure aims to deliver up to 30 billion cubic metres of natural gas annually to Morocco. From there, supplies would connect to the existing Maghreb-Europe Gas Pipeline to reach European destinations.

Furthermore, Ojulari indicated that the corporation expects to approach a final investment decision regarding the Trans-Saharan Gas Pipeline next year. Developed in coordination with partners in Niger and Algeria, this parallel initiative seeks to transport over 20 billion cubic metres of gas annually from Nigerian fields through Niger and Algeria toward Europe.

Production targets and corporate updates

According to Zawya, NNPC is working to harness nearly 20 trillion standard cubic feet of deep-water gas reserves currently governed by production-sharing contracts with major energy firms like ExxonMobil, Shell, and Total. Domestic output targets seek to establish a baseline of 8 billion standard cubic feet per day by late 2026, scaling to 12 billion by 2030.

On corporate governance, Ojulari mentioned that the company has completed an initial business assessment with advisors who previously handled Saudi Aramco's public offering. While an initial public offering timeline remains unconfirmed, leadership is actively resolving internal structural gaps. Financial reports released in September 2026 demonstrated strong performance for the preceding year, with profit after tax rising 33 percent to 7.2 trillion Nigerian nairas, valued at approximately $5.34 billion.

Why it matters

These ambitious infrastructure proposals underscore Nigeria's strategic pivot toward monetising its vast hydrocarbon deposits, estimated at 200 trillion standard cubic feet in shallow water and onshore fields. According to World Bank figures provided by CEII data, fuel exports accounted for 85.9 percent of Nigeria's merchandise exports in 2025, highlighting an economy heavily dependent on the energy sector.

For energy investors and European policymakers, diversifying supply corridors through West and North Africa offers an alternative route to meet long-term continental demand. However, successfully executing multi-billion-dollar pipelines across challenging terrain requires navigating complex regional geopolitics and securing substantial international financing. Meanwhile, bridging domestic supply gaps remains critical, given that only 62.5 percent of Nigeria's population had access to electricity in 2024, according to World Bank figures in the CEII data.