Russia has approved the construction of a petroleum product pipeline in the oil-rich Republic of Congo, as Moscow continues efforts to strengthen its influence in Africa.
The project will involve a joint venture between Russian pipeline builder ZNGS Prometey, which will own 90% of the venture, and the National Petroleum Company of Congo.
While no timeline for construction has been set, the agreement will take effect 30 days after both parties clear regulatory hurdles.
Russia and the Republic of Congo are expected to sign a build-own-operate-transfer concession deal within three months, which will finalize the remaining details. The Republic of Congo is also expected to provide tax relief measures under the agreement.
The pipeline — originally announced in 2017 but delayed due to the Covid-19 pandemic — will extend from the southern energy hub of Pointe-Noire to the north near the capital, Brazzaville. It is planned to operate for at least 25 years.
Russia Approves Construction of Fuel Pipeline in Republic of Congo
September 23rd, 2024
September 23rd, 2024
Via The Moscow Times, a report on a new planned fuel pipeline in Republic of Congo:
This entry was posted on Monday, September 23rd, 2024 at 10:21 am and is filed under Republic of Congo, Russia. You can follow any responses to this entry through the RSS 2.0 feed.
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