The East African Oil Pipeline is one step closer to implementation, after the signing on February 1 of the $10 billion Final Investment Decision.
However, widespread opposition and obstacles to obtaining $3 billion in debt financing could bring one of Africa's most ambitious fossil fuel projects to a halt.
Critics of the project stressed that Tanzania and Uganda should look for renewables, tourism and sustainable agriculture, rather than more oil and gas extraction, which would ship fossil fuels away from Africa, China Dialog reported.
They argued that investing in various green economic sectors could create nearly 4 million jobs, increase GDP by 10%, and save the country 30.4 million tons of carbon emissions by 2031.
Recoverable oil was first discovered in the Lake Albert basin, on the border between Uganda and the Democratic Republic of the Congo, in 2006 by the British company Tullow Oil.
In April 2020, the company sold its stake in the project to Total Energy, and the French oil giant has so far been working to provide investors.
The project consists of 3 main parts: the Telinga and Kingfisher oil fields on the shores of Lake Albert, and the East African Oil Pipeline, which will connect the oil fields via 1,443 km of underground pipelines, to a storage and loading terminal in the Tanzanian port of Tanga for export.
France's Total Energy and China's CNOOC are major foreign investors, as they are involved in both the upstream extraction projects and the pipeline itself.
The Uganda National Oil Corporation and Tanzania Petroleum Development are also involved in various parts of the project
" />
The East African Oil Pipeline is one step closer to implementation, after the signing on February 1 of the $10 billion Final Investment Decision.
However, widespread opposition and obstacles to obtaining $3 billion in debt financing could bring one of Africa's most ambitious fossil fuel projects to a halt.
Critics of the project stressed that Tanzania and Uganda should look for renewables, tourism and sustainable agriculture, rather than more oil and gas extraction, which would ship fossil fuels away from Africa, China Dialog reported.
They argued that investing in various green economic sectors could create nearly 4 million jobs, increase GDP by 10%, and save the country 30.4 million tons of carbon emissions by 2031.
Recoverable oil was first discovered in the Lake Albert basin, on the border between Uganda and the Democratic Republic of the Congo, in 2006 by the British company Tullow Oil.
In April 2020, the company sold its stake in the project to Total Energy, and the French oil giant has so far been working to provide investors.
The project consists of 3 main parts: the Telinga and Kingfisher oil fields on the shores of Lake Albert, and the East African Oil Pipeline, which will connect the oil fields via 1,443 km of underground pipelines, to a storage and loading terminal in the Tanzanian port of Tanga for export.
France's Total Energy and China's CNOOC are major foreign investors, as they are involved in both the upstream extraction projects and the pipeline itself.
The Uganda National Oil Corporation and Tanzania Petroleum Development are also involved in various parts of the project
" />
The East African Oil Pipeline is one step closer to implementation, after the signing on February 1 of the $10 billion Final Investment Decision.
However, widespread opposition and obstacles to obtaining $3 billion i…
" />
Africa Energy Insights - Is the East African Oil Pipeline Project Close To Becoming A Reality?
Oil & Gas
Is the East African Oil Pipeline Project Close To Becoming A Reality?
Juma Mandali
2 years, 10 months
The East African Oil Pipeline is one step closer to implementation, after the signing on February 1 of the $10 billion Final Investment Decision.
However, widespread opposition and obstacles to obtaining $3 billion in debt financing could bring one of Africa's most ambitious fossil fuel projects to a halt.
Critics of the project stressed that Tanzania and Uganda should look for renewables, tourism and sustainable agriculture, rather than more oil and gas extraction, which would ship fossil fuels away from Africa, China Dialog reported.
They argued that investing in various green economic sectors could create nearly 4 million jobs, increase GDP by 10%, and save the country 30.4 million tons of carbon emissions by 2031.
Recoverable oil was first discovered in the Lake Albert basin, on the border between Uganda and the Democratic Republic of the Congo, in 2006 by the British company Tullow Oil.
In April 2020, the company sold its stake in the project to Total Energy, and the French oil giant has so far been working to provide investors.
The project consists of 3 main parts: the Telinga and Kingfisher oil fields on the shores of Lake Albert, and the East African Oil Pipeline, which will connect the oil fields via 1,443 km of underground pipelines, to a storage and loading terminal in the Tanzanian port of Tanga for export.
France's Total Energy and China's CNOOC are major foreign investors, as they are involved in both the upstream extraction projects and the pipeline itself.
The Uganda National Oil Corporation and Tanzania Petroleum Development are also involved in various parts of the project
