NAN reports that the project was approved by FEC in December 2017.
According to Okoroafor, the project will help address the infrastructure deficit map of Nigeria in terms of gas pipelines.
“ This is a 614 km long natural gas pipeline expected to transport 3,500 million metric scf per day of dehydrated wet gas from several gas gathering projects located in southern Nigeria
“ It will result in the establishment of a connecting pipeline network between the eastern, western and northern regions of Nigeria.
“ It will create a steady and guaranteed gas supply network between the northern and southern part of Nigeria by utilising the countries widely available gas resources,’’ he said
He added that the AKK project would reduce the large volume of gas flared annually in Nigeria, boost electricity generation, strengthen the industrial sector, promote and increase the local usage of domestic gas.
Okoroafor said that it would equally help the government to make more money and address some environmental and health issues from gas flaring.
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru recently in Dubai, directed the Chinese Consortium and NNPC Project Team on the project to finalize the term sheet for the project’s contractor financing agreement.
He reiterated the need for both parties to speedily conclude details of the agreement towards its full execution during President Muhammadu Buhari’s state visit to China in September.
The project is expected to be financed by a Chinese consortium made up of Bank of China and Sinosure. (NAN)