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State-owned Nigerian National Petroleum Company Limited (NNPCL) said the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project is almost 70 percent complete.
The flagship project will deepen the integration of the northern region with the Niger Delta and other parts of the country, Premium Times newspaper reported, citing NNPCL chief executive Mele Kyari.
The pipeline will transport two billion standard cubic feet of natural gas per day to three proposed independent power plants in Abuja, Kaduna, Kano and possible commercial off-takers along the entire pipeline route.
Kyari said the company has so far spent over $1.1 billion on the project from its cash flow.
In March 2020, the Nigerian government guaranteed 85 percent of the $2.59 billion pipeline cost, funded by a loan facility from Chinese lender Sinosure, Reuters reported, citing Finance Minister Zainab Ahmed. NNPCL will cover the remaining 15 percent of the project’s cost, the news agency said.
(Writing by P Deol; Editing by Anoop Menon)
