With the project costing between $3.5 billion and $4 billion, of which 60% comprises debt raising and 40% equity, that leaves approximately $1.6 billion to be financed by shareholders.
The EACOP represents the largest pipeline project in the region at a length of 1,443km. Shareholders include TotalEnergies (62%), the Uganda National Oil Company (15%), the Tanzania Petroleum Development Corporation (15%) and the China National Offshore Oil Corporation (8%).