NIGER has inked a significant memorandum of understanding (MoU) with the Chinese state-owned oil giant China National Petroleum Corp (CNPC), reportedly valued at $400 million, as revealed by Niger state television RTN in a late Friday report.
While the specifics of the agreement were not divulged by RTN, attempts to obtain comments from Niger’s military authorities and CNPC officials proved futile.
Prime Minister and Minister of Economy and Finance, Ali Mahaman Lamine Zeine, lauded the deepening ties between Niger and China during the signing ceremony, broadcast by RTN. ‘China is a great friend to Niger; we can never say it enough,’ remarked Zeine, emphasising the significance of the deal in fostering bilateral relations.
Echoing Zeine’s sentiment, Chinese ambassador Jiang Feng hailed the MoU as a testament to the enduring friendship and fruitful cooperation between the two nations.
The agreement comes on the heels of an export pipeline initiative spearheaded by CNPC subsidiary PetroChina, which was officially initiated in November. This project links the Agadem oilfield to the port of Cotonou in neighbouring Benin, opening up new avenues for oil exportation from Niger.
Previously, Niger operated a modest oil refinery with a capacity of about 20,000 barrels per day (bpd), primarily catering to the domestic fuel market.
The latest deal signifies a significant step forward in Niger’s efforts to leverage its oil resources for economic development, while also solidifying its partnership with China in the energy sector.