Zimbabwe Agrees to $1.3 billion Joint Venture Fuel Pipeline with British Firm
HARARE (Reuters) — Zimbabwe has signed a $1.3 billion joint venture agreement with British-based Coven Energy to develop a fuel pipeline from the Mozambican port city of Beira to the capital city Harare, the minister of information said on Wednesday.
Monica Mutsvangwa said the pipeline would complement the existing one that also links Harare and Beira and make landlocked Zimbabwe a fuel hub for the southern Africa region.
"The pipeline will be built over four years at an estimated cost of $1.3 billion. The partnership will be for a period of 30 years," Mutsvangwa said during a post-Cabinet briefing.
Unlisted Coven Energy will form a 50-50 joint venture company with state-owned National Oil and Infrastructure Company, Mutsvangwa said.
Zimbabwe has struggled with acute shortages of fuel due to perennial shortages of foreign exchange but supplies have improved in recent months after the government allowed companies to sell the commodity in U.S. dollars.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- Cheniere Seeks FERC Approval to Expand Sabine Pass LNG Facility
- Heath Consultants Exits Locate Business to Expand Methane Leak Detection Portfolio
Comments