The construction of a pipeline between Zambia and Angola will cost the Zambian authorities an estimated US$5 billion, Angola’s minister of Mineral Resources and Oil said in Luanda.
Diamantino Azevedo, returning to Angola after a five-day visit to Zambia, said that Zambians are already indicating this value in a preliminary phase of studies, with Angola having only established the conditions to start discussing the project.
The minister also said that the memorandum of understanding establishes the basis for cooperation in the oil and gas sector, with a list of criteria for strengthening bilateral cooperation, not “by any means” aimed at the construction of the pipeline.
He also said that the memorandum has advantages for both countries, as it facilitates all types of projects in the sector, noting that Zambia has no access to the sea, which makes it difficult to import oil and its derivatives, which is a factor in Angola’s favour.
The document was signed by Diamantino Azevedo and Zambian Energy Minister Matthew Nkuwa, who stressed the urgency of building the AZOP project (Angola Zambia Oil Pipeline) linking the Lobito Refinery to the city of Lusaka. (macauhub)