Nigeria to start AKK pipeline in October
ABUJA, September 4, 2018 – The Nigerian National Petroleum Corporation (NNPC) plans to begin work on the Ajaokuta-Kaduna-Kano pipeline in October, with funding guaranteed by China National Petroleum Corporation, the NOC announced Monday.
“We want to maximise the construction work before the end of the year. We are hoping for the quick resolution of the financing agreements so that we will kick start the project in October, when the dry season begins,” group managing director Maikanti Baru said in a statement.
The total cost of building the northern gas line network will be USD 2.8 billion. Financiers including Industrial and Commercial Bank of China, Bank of China and Infrastructure Bank of China are to provide 85% of the funding with Sinosure, China’s export credit agency, providing insurance cover. The remaining 15% will be provided by the contractors.
The project, part of the Trans-Nigerian Gas Pipeline, is one of three pipes in Nigeria’s Gas Master Plan.