Russia approves petroleum pipeline construction in Congo to boost African influence

Russia has given the green light for the construction of a petroleum product pipeline in the Republic of Congo, marking a significant move to bolster its influence in Africa.

The project will be carried out through a joint venture between the Russian pipeline builder ZNGS Prometey, which will hold a 90% stake, and the National Petroleum Company of Congo, the Russian government said in a statement, News.Az reports.

The construction timeline is yet to be determined, but the agreement will become effective 30 days after both parties overcome regulatory requirements.

A build-own-operate-transfer concession deal is expected to be signed within the next three months, which will finalize the project's details. The Republic of Congo is anticipated to offer tax relief measures as part of the agreement.

Initially announced in 2017 and delayed by the COVID-19 pandemic, the pipeline will stretch from Pointe-Noire in the south to Brazzaville near the capital. It is planned to operate for a minimum of 25 years.

News.Az