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20 Mar, 2023 05:38

Russia and Congo to ink energy deal – envoy

The two countries are reportedly looking to build a pipeline to supply the African nation with Russian oil
Russia and Congo to ink energy deal – envoy

Russia and the Republic of Congo are planning to sign an intergovernmental agreement on the construction of a pipeline for transporting petroleum products to Brazzaville, according to Russian Ambassador Georgy Chepik.

“It is assumed that this agreement will be signed before the Russia-Africa summit, and probably a joint venture will be created, which will deal with the practical issues, and a concession agreement will be signed,” he told reporters on Friday.

The Russia-Africa Summit will take place in July 2023 in St. Petersburg.

The ambassador specified that the pipeline will run between the two largest cities of the African country – Pointe-Noire and the capital, Brazzaville. “It is named after the points it crosses: Pointe Noire, Lutete, and Maloukou Trechot,” Chepik explained.

On the Russian side, the ZNGS Prometey company has shown interest in the project, and “it will most likely be involved in the intergovernmental agreement.”

The diplomat also said that Russian energy giant Lukoil, which has been working in Congo since 2019, will lead the development of cooperation between the two countries. “This is a very important, significant presence for us. It can only be compared with Rusal in Guinea and Alrosa in Angola. Lukoil is our most important economic presence here now,” Chepik stressed.

The ambassador also revealed that ahead of the summit, Russia and the Republic of Congo are preparing several agreements, including on trade and maritime transport. Work is also underway on a memorandum of cooperation in the construction sector, he said.

For more stories on economy & finance visit RT's business section

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