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%).
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Building on three successful editions, the fourth edition, taking place on 3-4 December in Senegal, will open further deal-signing opportunities for regional and foreign investors.
While some analysts propose that existing discoveries hold enough oil and gas to meet global demand for the foreseeable future, others argue that the remaining supply will not sustain us beyond the next quarter century.
Africa’s gas resources stand to play a central role in achieving regional and global energy security, while meeting climate targets.
