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Wednesday, September 30, 2015

Ethiopia and Djibouti signed a $1.55 billion fuel pipeline

Ethiopia and Djibouti signed an agreement for a $1.55 billion fuel pipeline with developers Mining.



(MoFA)- Ethiopia and Djibouti signed an agreement for a $1.55 billion fuel pipeline with developers Mining, Oil & Gas Services and Blackstone Group LP-backed Black Rhino Group on Tuesday (September 29).
The companies said the agreement is to construct a 550-kilometer pipeline to transport gasoline, diesel and jet fuel from port access in Djibouti to central Ethiopia. The Black Rhino Chief Executive Officer Brian Herlihy said, “The Pipeline will increase energy security, aid economic development and reduce harmful emissions.” The project, known by the name the Horn of Africa Pipeline, includes an import facility and 950,000 barrels of storage capacity in Damerjog, Djibouti, linked to a storage terminal in Awash, Ethiopia.
The 51 centimeter line is capable of transporting 240,000 barrels a day of fuel which is good news for Ethiopia which transports fuel by tanker truck from Djibouti to Addis.
Source: MoFA