{"id":6780,"date":"2021-03-22T17:22:08","date_gmt":"2021-03-22T17:22:08","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=6780"},"modified":"2023-06-15T22:22:51","modified_gmt":"2023-06-15T22:22:51","slug":"pipeline-meeting-called-off-over-magufuli-death","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death","title":{"rendered":"Pipeline meeting called off over Magufuli death"},"content":{"rendered":"

Africa-Press<\/a> – Uganda<\/a>. <\/strong><\/span>The high-profile meeting previously scheduled for today to sign off the remaining key agreements for commercialisation of the proposed East African Crude Oil Pipeline (EACOP) has been deferred to allow the mourning of fallen Tanzanian President John Pombe Magufuli, sources have revealed.Magufuli, 61, died on Wednesday last week due to heart complications.<\/p>\n

During the meeting, Uganda, Tanzania and Total SA – the parent company of Total E&P, the lead developer of the pipeline – were slated to sign the shareholders, tariff, and transportation agreements, respectively for EACOP.<\/p>\n

The shareholders agreement details the structure of the 1,443km pipeline from Hoima in mid-western Uganda to Tanzania\u2019s Indian Ocean port of Tanga. Total E&P owns majority shares in the project of 72 per cent, followed by Uganda through Uganda National Oil Company (Unoc) with 15 per cent, Chinese oil company\u2014Cnooc with eight per cent, and Tanzania through its national oil company, TPDC, with five per cent.<\/p>\n

Uganda\u2019s 15 per cent stake is in sync with the 15 per cent stake in the production licences for each of the oil fields operated by Total E&P and Cnooc.<\/p>\n

The tariff agreement details the economics of fees for transportation of crude oil from Hoima through Tanga port, while the transportation agreement deals with shipment of the oil from Tanga to the international market.<\/p>\n

The initialing of the three agreements is expected to pave way for Final Investment Decision (FID), when Total E&P and Cnooc are expected to announce capital\u2014at least $10b (Shs36 trillion) to kick-start the next development phase leading to commercial oil production, tentatively by 2025; $6.7b (about Shs24 trillion) for developing the oil fields\u2014Tilenga fields in Nwoya\/Buliisa districts and Kingfisher, and $3.8b (Shs13.8 trillion) for developing the EACOP.<\/p>\n

The postponement of today\u2019s meeting is to some extent a blessing in disguise for Uganda to quickly mobilise $130m (Shs487b) as initial financial commitment to EACOP.<\/p>\n

The Ministry of Finance last week hurriedly submitted a request for supplementary budget to Parliament to borrow the money from the domestic market but faced a hard time during the back-to-back appearances before the Budget and National Economy committees, respectively, to justify the \u201cquick request\u201d for a project whose negotiation has been on for a long time.<\/p>\n

The Minister of Energy, Ms Goretti Kitutu, and Unoc management led by the chief executive officer, Ms Proscovia Nabbanja, are today expected to discuss with MPs on the committee on National Economy to approve the loan request.The MPs last week, however, requested for copies of all agreements relating to the pipeline.<\/p>\n

The $130m includes $70m (Shs259b) as Uganda\u2019s initial financial commitment and $60m (Shs222b) to offset expenses previously spent by Total E&P in pre-project construction activities. Uganda\u2019s 15 per cent equity stake in EACOP translates into $233m (Shs849b).<\/p>\n

Construction of the pipeline is tentatively expected to commence later this year if FID is closed by early next month.<\/p>\n

UNOC<\/b><\/p>\n

Uganda National Oil Company, the statutory body mandated to manage the country\u2019s commercial interests in the oil sector, requires another $480m (Shs1.7trillion) to finance Uganda\u2019s stake in the proposed 60,000 barrels-per-day oil refinery, and $71.4m (Shs261b) in the proposed storage terminal for the refined oil products.<\/p>\n

fmusisi@ug.nationmedia.com<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. The high-profile meeting previously scheduled for today to sign off the remaining key agreements for commercialisation of the proposed East African Crude Oil Pipeline (EACOP) has been deferred to allow the mourning of fallen Tanzanian President John Pombe Magufuli, sources have revealed.Magufuli, 61, died on Wednesday last week due to heart complications. […]<\/p>\n","protected":false},"author":84,"featured_media":6779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,240,234],"class_list":["post-6780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nPipeline meeting called off over Magufuli death - Uganda<\/title>\n<meta name=\"description\" content=\"The high-profile meeting previously scheduled for today to sign off the remaining key agreements for commercialisation o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pipeline meeting called off over Magufuli death\" \/>\n<meta property=\"og:description\" content=\"The high-profile meeting previously scheduled for today to sign off the remaining key agreements for commercialisation o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-22T17:22:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-15T22:22:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/03\/img-6058cccddeb8f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Pipeline meeting called off over Magufuli death\",\"datePublished\":\"2021-03-22T17:22:08+00:00\",\"dateModified\":\"2023-06-15T22:22:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death\"},\"wordCount\":557,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/03\/img-6058cccddeb8f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pipeline-meeting-called-off-over-magufuli-death\",\"name\":\"Pipeline meeting called off over Magufuli death - 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