IAE 2024: EACOP spokesperson to share pipeline project updates
Published by Isabel Stagg,
Editorial Assistant
World Pipelines,
Representing one of the most transformative projects on the continent, Cheick Omar Diallo, TotalEnergies Spokesperson for the Tilenga – East African Crude Oil Pipeline (EACOP) project, will speak at the upcoming Invest in African Energy (IAE) forum in Paris on 14 – 15 May.
Developed by TotalEnergies, Uganda National Oil Company, Tanzania Petroleum Development Corporation and China National offshore Oil Corporation, EACOP represents the largest single investment in both Uganda and Tanzania, having secured US$2 billion in global financing to date. From 2025, the pipeline will transport oil from Uganda’s Tilenga and Kingfisher fields to Tanzania’s Port of Tanga for global export, thereby enabling landlocked Uganda to monetise its hydrocarbon resources, estimated at over one billion barrels.
IAE 2024 is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place 14 – 15 May, 2024, in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers.
The pipeline also stands to benefit neighbouring Democratic Republic of the Congo, which is in discussions with Uganda to transport its own oil through EACOP once it starts commercial production from oil fields in the Albertine Graben. The 1440 km pipeline will not only deliver new oil and gas resources to market, but also open a new chapter in East African trade and cooperation. EACOP is currently in its EPC phase and seeking another US$3 billion in debt financing, reflecting the financing gap within Africa’s midstream sector.
“Africa has unparalleled oil and gas resources, yet lacks the requisite infrastructure to develop, transport and bring these resources to high-demand markets. EACOP bridges this gap by uniting global stakeholders and showing that capital-intensive projects can be delivered on this continent. With TotalEnergies’ participation, the upcoming forum will showcase opportunities to finance, support and advance this transformative project,” says Sandra Jeque, Event and Project Director at Energy Capital & Power.
Image: Cheick Omar Diallo, TotalEnergies Spokesperson for the Tilenga – East African Crude Oil Pipeline (EACOP) project.
Read the article online at: https://www.worldpipelines.com/project-news/05032024/iae-2024-eacop-spokesperson-to-share-pipeline-project-updates/
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