Morocco Firm Plans First Fundraise for $25 Billion Gas Pipeline

Morocco’s state-controlled natural resources company plans to start raising part of the $25 billion needed to build a pipeline that will link gas fields in West Africa to the Mediterranean coastline.

The fundraising will be the first by the Office National Des Hydrocarbures & Des Mines, or ONHYM, since it converted into a public limited company in February. The firm has exclusive authority over the licensing and development of the North African kingdom’s hydrocarbon and non-phosphate mineral resources.