Morocco Seeks US Backing for $26 Billion Gas Pipeline Amid Global Energy Uncertainty

Morocco is seeking financial backing from the Export-Import Bank of the United States and the World Bank for a proposed $26 billion gas pipeline that would transport natural gas from West Africa to Morocco and Europe, according to Bloomberg.

The planned African Atlantic Gas Pipeline would stretch about 6,800 kilometers (4,230 miles) along Africa's Atlantic coast and connect gas fields in countries including Nigeria, Senegal, and Mauritania before linking to the existing Maghreb-Europe Gas Pipeline that runs between Morocco and Spain.

Moroccan Ambassador to the United States Youssef Amrani said the government is in talks with both institutions as it looks to secure financing for the long-delayed project. Speaking to Bloomberg, he stated that recent disruptions to global energy markets have reinforced the need for the pipeline, saying that Europe is looking for more reliable and diversified gas supplies.

A spokesperson for the U.S. Export-Import Bank told Bloomberg that early-stage talks have taken place regarding the project. The World Bank declined to comment.