Nigeria and Algeria plan to discussthe timeline for the construction of a trans pipelinethat-Sara transported natural gas of the two countries to the African Union Summit Europe of thisweek in Equatorial Guinea.
"Will present us with a draft plan course and war and timeline," said Nigerian President Goodluck Jonathan. generation of private investors app tohelp the $ 20 million for the pipeline, that isexpected to be completed in 2015, demand more African oil producer, said Jonathan.
African producers are increasing investments in gasprojects as Europe seeks to reduce its dependence on Russia, which represents a fifth of its fuel supply. Algeria, Nigeria and Niger signed an agreement in July 2009 to build thepipeline which will take place from the delta of the Niger River, in southernNigeria through Niger to Algeria and then theMediterranean sea to Spain, possibly a toItaly van branch, according to the Ministry of Nigerian oil.
OAO Gazprom, Total SA (FP) and Eni SpA (ENI) also showed aninterest in development of tube (2.565 km) 4.127 kilometers, which is 90% owned by State oil companyNigerian National Petroleum Corporation and Sonatrach Algeria. NigerRepublic owns the remainder.
Algeria is the biggest producer of gas from Africa and the continent's largest reserves of Nigeria holdsthe approximately 187 trillion standardcubic feet, show data of the Ministry.
"We commit ourselves in 2015, although it is not completed, it will be besome way to be there," said Jonathan.
To contact the reporter on this story: Franz Wild in Johannesburg at fwild@bloomberg.net
To contact the reporter on this story: Eliseo Gbogbo bala in Abuja in ebalagbogbo@bloomberg.net.
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