NOEIP will cover 10% of the risks of the consortium in charge of pipeline construction

The consortium in charge of the construction of the West Africa gas Pipeline (Chevron Texaco, Nigerian National Petroleum Corporation, Shell and Takoradi Power (Ghana) agreed to allocate 10% of insurable risks to Nigerian Oil and Energy Insurance Pool (NOEIP). 620 kms long, the gas pipeline will connect, starting June 2005, Lagos (Nigeria) to Takoradi (Ghana) with branch pipes (junctions) at Cotonou (Benin), Lomé (Togo) and Tema (Ghana). The project is endowed with a 500-million-USD investment budget and stands among the 10 top priorities of the New Partnership for the Development of Africa (NEPAD)