Angola, Zambia sign USD 5-bln pipeline MoU

Angola

LUANDA, November 5, 2018 – Angola and Zambia have signed an MoU to construct a USD 5-billion oil pipeline, local media reported Monday.

Zambian Minister of Energy Mathew Nkhuwa said the government currently spends USD 1 billion on trucked fuel imports annually, Zambia National Broadcasting Corporation reported. A timeline for construction was not given.

A plan to build a products pipeline between the two countries was originally announced in 2012 but has seen a series of setbacks amid lower oil prices.

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