Rovuma–South Africa gas pipeline: Joint venture agreement signed in Maputo

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Rovuma–South Africa gas pipeline: Joint venture agreement signed in Maputo

11:11 CAT | 25 Apr 2016

O País

A 2,600 kilometre-long gas pipeline which will transport gas from the Rovuma basin to all Mozambique’s major cities of and special economic zones and on to the South African province of Gauteng is to be built at a cost of US$6 billion.

The African Renaissance pipelinejoint venture agreement for its construction was sealed on Friday with the signing in Maputo by the Mozambican company Profin Limited (represented by its executive director, Olivia Machel); Empresa Nacional de Hidrocarbonetos (represented by administrator Martinho Tavares); China Petroleum Pipeline Bureau (represented by Vice President Chen Qingxun); China Petroleum Technology Development Corporation (represented by Vice President Yan Wei) and the South African Progas Investment company (represented by Nhlanhla Magubane).

Mozambique has the majority control of the pipeline, with its 56 percent share, China 20 percent and South Africa 24 percent. The project involves no public debt or state guarantees, the source adds.

Source: O País