Special thread: EACOP updates

Special thread: EACOP updates

Ntaghacha said:
Siasa za Kenya ni very funny,ntakuwa karibu na TV kufuatilia hasa Ruto kama atakubalika central Kenya
Click to expand...


Nyakati zingine wanapigana.

Tony254 Siyo vizuri kupigana. Kugombana ni sawa. Lkn siyo kupigana, nyie utotoni mlifundishwa nini!!? Mtajiitaje jamii ya watu waliostaarabika, iwapo wawakilishi wa chombo cha juu sana katika nchi wanapigana!!!? Hivyo wawakilishi wameshindwa kupambana kwa hoja, sasa wameamua kuonesha viroja!! Hiyo inaonesha picha ipi ya ustaarabu na kuvumiliana?


 
Museven amesema wanaharakati ni wazururaji. Ameongea hayo akiwa katika kuweka saini ya mwisho ya kuanza kutekeleza mradi wa Bomba la Afrika Mashariki.
 
totalenergies.com

Uganda and Tanzania: launch of the Lake Albert Resources Development Project

Paris, February 1, 2022 – During a ceremony held in Kampala, in the presence of Yoweri Museveni, President of the Republic of Uganda, Philip Mpango, Vice-President of the United Republic of Tanzania, Patrick Pouyanné, Chairman and CEO of TotalEnergies, and representatives of the China National...
totalenergies.com totalenergies.com
 

EA Crude Oil Pipeline enters fundraiser phase​

WEDNESDAY FEBRUARY 09 2022​



Oil pipeline.


An oil pipeline. The East African Crude Oil Pipeline (Eacop) is a key infrastructure project that will transport Uganda’s oil to export markets. PHOTO | FILE

Summary​

  • The 1,443km pipeline will cost $5 billion – a jump from the original cost of $3.5 billion due to the increase in prices of key inputs such as steel, cost of shipping as well as the cost of loans.
  • Eacop is to be financed 60-40 percent split between debt and equity; this means its shareholders will raise $2 billion between them while the remainder is raised through loans.
  • Environmentalists in Uganda, Kenya, Tanzania, Europe and the United States, have criticised the project and petitioned targeted banks not to finance the pipeline, saying it is harmful to the sensitive biodiversity of the Albertine region.
ADVERTISEMENT

General Image

By JULIUS BARIGABA
More by this Author
After announcing the final investment decision, the shareholders of the East African Crude Oil Pipeline (Eacop) now turn to looking for money to conclude the deal for financing of the project, which is expected mid this year.
The Eacop is a key infrastructure project that will transport Uganda’s oil to export markets, hence a major component in the commercialisation of the Lake Albert oil resources.
The 1,443km pipeline from Hoima in Uganda to the Indian Ocean port of Tanga in Tanzania, will cost $5 billion – a jump from the original cost of $3.5 billion due to the increase in prices of key inputs such as steel, cost of shipping as well as the cost of loans.
“Fully loaded, we are looking at a cost of $5 billion,” says John Bosco Habumugisha, the General Manager, National Pipeline Company.
According to Proscovia Nabbanja, the Chief Executive Officer of State-owned Uganda National Oil Company (Unoc), the shareholders are expecting financing offers from a number of Export Credit Agencies (ECAs) from Europe and China.
“The financial closure is not yet achieved, we are hoping to reach it latest mid this year,” she told journalists during a press conference after the FID announcement on February 1.

Related​

ADVERTISEMENT

It is not clear at this stage if the ECAs will offer direct lending or act as intermediaries for the loans, but industry sources indicate that once European, American and Australian banks walked away from Eacop, China was “the only realistic option”.
Eacop is to be financed 60-40 percent split between debt and equity; this means its shareholders will raise $2 billion between them while the remainder is raised through loans from banks and other international lenders.
TotalEnergies.

TotalEnergies is the major shareholder of East African Crude Oil Pipeline (Eacop), a key infrastructure project that will transport Uganda’s oil to export markets. PHOTO | FILE
Eacop shareholders are TotalEnergies (62 percent), Unoc (15 percent), Tanzania Petroleum Development Company or TPDC (15 percent) and China National Offshore Oil Corporation or Cnooc (8 percent).
Environmentalists in Uganda, Kenya, Tanzania, Europe and the United States, have criticised the project and petitioned targeted banks not to finance the pipeline, saying it is harmful to the sensitive biodiversity of the Albertine region and other natural resources along the route.
When completed in 2025, Eacop will be is the world’s longest heated pipeline, and activists say it will generate 34 million tonnes of carbon dioxide and compromises climate goals.
ADVERTISEMENT

In the headlines​

African Union to open mission in Beijing​

African Union Summit.
It did not specify when the Mission will open but suggested that the appointment of officials will be staggered.

Somalia mourns democracy hero Hersi Bulhan Farah​

Hersi Bulhan Farah, a former Somali MP.
Bulhan was elected MP in the last multiparty general election in Somalia in 1969 before army power takeover via a military coup.

Nigeria sends IDPs home despite ongoing conflict​

ICJ to rule on massive DRC, Uganda reparation claim​

Museveni moves ex-army spy chief Gen Kandiho to police​

EU lifts sanctions on Burundi​

Why Lapsset is stuck on the starting blocks​


LATEST

ADVERTISEMENT

NEWS​


East AfricaRest Of AfricaWorld

BUSINESS​


OPINION​


SCIENCE & HEALTH​


MAGAZINE​


SPORTS​


REST OF AFRICA​


KUSI IDEAS​


​

​

The East African

Apps​

Information​

NMG Sites​

Follow us​


The East African​

 
You must log in or register to reply here.

Similar Discussions

Our Community

Coming Soon

Regional Communities

Coming Soon
Back
Top Bottom
Menu
Forums
New posts
Log in
Register