Funding, insecurity stall $2.8b AKK project, gas export | The Guardian Nigeria News


• Stakeholders consider options for gas export amid Russia/Ukraine war
• Divestment, dwindling upstream investment cloud gas export potential 

Barely six months to expected completion of the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) pipeline project, indications emerged yesterday that the delivery of the project may remain elusive despite heightened momentum for Nigeria to export gas to Europe.

The Guardian gathered that thousands of workers have deserted site, especially, in the section spanning Abuja to Kano as terrorists continue their onslaught on life and property in the area.

Funding challenges, it was also gathered, may further frustrate the completion of the project, especially with the withdrawal of interest by China to finance the 614km pipeline network.

Stakeholders, who spoke with The Guardian in separate interviews, yesterday, were uncertain of the future of the project, insisting that its failure to keep to schedule may further worsen the search for new lenders by…

Source: Guardian Newspaper