Tanzania, Uganda sign key pact to enable construction on EACOP pipeline nsenergybusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nsenergybusiness.com Daily Mail and Mail on Sunday newspapers.
Uhuru & Suluhu Sign Ksh100 Billion Deal
President Uhuru Kenyatta and President Samia Suluhu at State House on May 4, 2021
PSCU
President Uhuru Kenyatta and his Tanzanian counterpart Samia Suluhu have signed a Ksh100 billion deal at State House, Nairobi.
The deal was signed during a two-hour meeting between the two heads of state, which was followed by a joint address on May 4, 2021.
The deal will see Tanzania construct a Ksh100 billion gas pipeline from Dar es Salaam to Mombasa.
President Uhuru Kenyatta leading Kenya s delegation during the signing of the MOU s on natural gas transportation
PSCU
The 600-kilometre pipeline will pass through the port city of Tanga to Mombasa and will carry natural gas from the Songo Songo Island and from the Mnazi Bay gas fields in southern Tanzania near the border with Mozambique.
The East African
Monday May 03 2021
Uganda President Yoweri Museveni and Tanzania President Samia Suluhu during her one day visit to Uganda. PHOTO | PPU | AFP
Summary
Last week, French newspaper
Les Echos reported that three French banks – BNP Paribas, Société Générale and Crédit Agricole – which have previously bankrolled Total’s oil and gas
projects – had opted not to provide financing for Eacop.
Milan-based UniCredit, one of the targeted lenders for Eacop, confirmed to
The EastAfrican that its policies bar it from financing projects that pose environmental risks.
Advertisement
All is not well with the Total SE-sponsored East African Crude Oil Pipeline as, one by one, European lenders are walking away from requests to finance the $3.5 billion project, leaving it in financing blues barely three weeks after its launch.
Response to Hussein Amin on Uganda’s take from oil sector
April 21, 2021 President Museveni signs the oil agreements
The assertion that Uganda got a bad deal from the oil and gas projects, and that it will only earn $5 per barrel, is not only factually wrong but does not make logical sense.
Mr Hussein Lumumba Amin ignorantly mixes up the economics of the upstream with the economics of the midstream. To understand government’s expected take/revenue from the sector, these two segments of the petroleum value chain must be understood/ explained separately.
The crux of his faulty and bizarre thesis is captured below:
‘Hoima-Tanga oil pipeline work to start anytime now’
20
‘Hoima-Tanga oil pipeline work to start anytime now’
THE construction of the major crude oil pipeline from Hoima in Uganda to the port of Tanga in Tanzania is expected to start any time from now.
Dr. Medard Kalemani.
Dr. Medard Kalemani, the Minister for Energy made this affirmation here yesterday, noting that the 1,445km long pipeline that will cost $3.5 billion. It now has the green light “following the completion of paperwork that was being undertaken by government negotiation teams” from the two neighbouring countries.
Speaking at a brief ceremony to receive the report of the national negotiation team yesterday, the minister said the government was going to work on the report which he said has explicitly stated what has been agreed upon.