Angola has signed a US$5bn MoU with its neighbour Zambia, with an aim to carry out studies to assess the feasibility of installing pipelines and gas pipeline between Lobito and Lusaka
According to a statement by Angola’s Ministry of Petroleum, the studies may take two years. They will be submitted to the two governments for a final decision regarding the feasibility of implementing the AZOP project (Angola-Zambia Oil Pipeline), suggested by Zambia.
Once implemented, the pipeline project, which will have several lines, can create up to 4,000 permanent jobs in Angola and Zambia, stated the statement
If implemented, the set of oil and gas pipelines will have several terminals and subterminals in both territories.
As reported by Anadolu Agency, this agreement is expected to bring an end to a more than 10-year old complex negotiation process that shall lead to cheaper fuel for Zambia.
Sonangol, Angola’s state oil firm, and Zambia state’s company IDC will be strategic equity partners in the pipeline project, Chalungumana said, as reported by The Zambian Observer.
