The WAGP entails the construction of a 678-km gas pipeline that will transport natural gas from Nigeria to Ghana, Togo, and Benin Republic. Following the World Bank credit guarantee, the board of the West African Gas Co (WAPCo), the company formed by all the project promoters including the Nigerian National Petroleum Corporation (NNPC), Shell, and ChevronTexaco, met in Accra, Ghana, to consider the final investment decision (FID) for the project. The WAGP has suffered numerous postponements, which have consequently raised its cost from the initial estimates of $ 400 million, and it remains one of Nigeria’s key projects for ending gas flaring in the country as well as earning revenue from gas export. Following the Accra meeting, an official of WAPCo said: “The entire investment decision process will be concluded in the second half of December, when it is hoped that parliaments in the four countries will have passed the WAGP international project agreement enabling legislation. So far, only Ghana has done this, while the process in both Houses of the Nigerian National Assembly has reached advanced stages. Actually construction of WAGP is scheduled to start six months after this decision isconfirmed, with first gas delivery occurring approximately 20 months from start of construction.” Nigeria’s gas reserves, estimated at about 185 tcf, are twice as large as its oil reserves, with a potential for production to last 120 years, compared to 30 years for crude oil, which currently accounts for 90% of foreign exchange earnings and over 80% of the country’s GDP. The 678-km pipeline, to be laid mostly offshore, is expected to be 18-20in diameter, and will be laid in 26 to 70m of water at an approximate distance of 15-20km from the shore of all four countries. The project has three components, the first of which is the commissioning of the gas pipeline. The second component of the project will focus on the development of non-power gas markets in Benin, Ghana, and Togo, and the funding of other technical assistance needs, while the third will focus on providing support to the newly-created West African Gas Pipeline (WAGP) Authority.