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Tanzania and Uganda agreed to complete and sign a host Government Agreement for EA Crude Oil Pipeline Plans

The two East African Community member states agreed to further fast-track their plans for the construction of the 3.5 billion US dollars project that will allow Uganda to export crude oil from its vast reserves in the Lake Albert Basin to overseas market through Tanga port.

Plans for construction of the East African Crude Oil Pipeline (EACOP) are coming closer to the critical stages as Tanzania and Uganda, agreed to complete and sign a host Government Agreement for the project by end of June this year.

Tanzania re-assured Uganda about her willingness to oversee the construction of the pipeline that will start from the refinery based in Hoima to reach the terminal on the coast of Tanzania.

The affirmation was given by the Minister for Constitution and Legal Affairs, Prof Palamagamba Kabudi at the meeting hosted by Uganda's Energy and Mineral Development Minister, Irene Muloni and also attended by her counterpart in Tanzania, Dr Medard Kalemani.

The crude oil pipeline is also of necessary and equally important to Tanzania during construction works in terms jobs and business opportunities that will be utilised and after construction in terms of revenue that the government is going to earn through tariff set earlier not to cross 12.20 US dollars per barrel.

The crude oil pipeline which will become the world's longest heated crude oil export pipeline upon completion, is expected to be completed by the year 2020, when Uganda is scheduled to start oil production.

Source : newzmart
Posted On: 1/31/2019 12:00:00 AM

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