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Cabinet passes draft deal on construction of products pipeline in Republic of the Congo

Zakneftegazstroy-Prometey Ltd. and the National Petroleum Company of Congo, which acts as a customer, will become authorized companies responsible for implementation of the project from Russia and the Republic of the Congo, respectively

MOSCOW, September 16. /TASS/. Russia’s government has approved the draft of an intergovernmental agreement on the construction of the Pointe-Noire-Lutete-Maloukou Trechot oil products pipeline in the Republic of the Congo and tasked the Energy Ministry with the participation of the Russian Foreign Ministry to hold talks with the Congolese side and sign the document, according to the cabinet’s decree that has been released.

Zakneftegazstroy-Prometey Ltd. and the National Petroleum Company of Congo, which acts as a customer, will become authorized companies responsible for implementation of the project from Russia and the Republic of the Congo, respectively, according to the draft agreement.

The companies are to set up a joint venture, in which the Russian side’s share will stand at 90%, while the Congolese side will have a 10% share, within a month after the signing of the intergovernmental agreement.

Earlier reports said that the capacity of the pipeline could total 2.1 mln tons per year, though the draft agreement does not contain information on that.

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