What is the primary purpose of ONHYM's upcoming fundraising, and how does it relate to the Nigeria-Morocco gas pipeline project?

The primary purpose of ONHYM's upcoming fundraising is to secure part of the $25 billion required to build the 4,300-mile (6,900-kilometer) Nigeria-Morocco gas pipeline — a transnational infrastructure project linking gas fields in Nigeria, Senegal, and Mauritania to 10 neighboring African countries, including Morocco, and connecting to the existing Maghreb-Europe Gas Pipeline that runs from Morocco to Spain. This fundraising marks ONHYM’s first since its conversion into a public limited company in February, a structural change intended to enhance its capacity to structure partnerships, mobilize diversified funding, and support large-scale domestic and international projects. The pipeline is explicitly framed by ONHYM as 'a structuring step for Euro-African energy security,' positioning the Nigeria-Morocco corridor as a strategic opportunity for Europe to access one of the world’s largest still largely untapped gas reserves — thereby supporting Europe’s broader goals of securing and diversifying its gas supplies.

What institutional and strategic significance does ONHYM’s recent legal transformation hold for the pipeline project?

ONHYM’s conversion into a public limited company in February significantly strengthens its institutional capacity to advance the Nigeria-Morocco gas pipeline, as the company stated this change enhances its 'capacity to structure partnerships, mobilize diversified funding and support large-scale projects both in Morocco and internationally.' As Morocco’s state-controlled natural resources firm with exclusive authority over hydrocarbon and non-phosphate mineral licensing and development, ONHYM has led the pipeline initiative since 2018 — making it the central national entity responsible for realizing the project. Its new legal status is thus not merely administrative but strategic: it enables more flexible, commercially oriented engagement with international investors, governments, and energy partners necessary for financing and executing a $25 billion, multi-jurisdictional infrastructure endeavor. While ONHYM declined to specify the size, timing, or type of the planned fundraising, its formal statement confirms the reform is directly tied to enabling the scale and complexity of projects like the pipeline — especially given parallel developments such as OMCO’s announcement that a formal inter-governmental agreement and final investment decision are expected this year.

Morocco State Firm Plans First Fundraising for $25 Billion Gas Pipeline

Apr 29, 2026

Morocco's ONHYM plans its first fundraising since converting to a public limited company to finance a $25 billion gas pipeline linking West African reserves to the Mediterranean, with final investment decisions expected this year.

bloomberg

2026-04-29

Morocco State Firm Plans First Fundraising for $25 Billion Gas Pipeline

Morocco State Firm Plans First Fundraising for $25 Billion Gas Pipeline

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