A memorandum of understanding (MoU) to build an oil and gas pipeline between Zambia and Namibia was signed on Thursday.
The agreement was signed by Zambia’s Energy Minister Peter Kapala and Namibia’s Mines and Energy Minister Tom Alweendo during the 10th Joint Permanent Commission (JPC) day in Swakopmund, Namibia’s westernmost coastal city.
The pipeline is going to be from Namibia’s Walvis Bay up to Zambia.
The two nations have committed to representing an MoU on the improvement and forcing of the Namibia-Zambian oil output and natural gas pipeline venture, according to a communique released at the end of the JPC on Thursday.
“The commission called on the private sectors in the two countries to capitalize on the immense opportunity and potential that the MoU would generate,” it mentioned.
If carried out as planned, the project will have a significant impact on addressing the shortages of petroleum in both countries and Southern Africa, eventually leading to a decrease in pump prices, especially for Zambia, which depends heavily on imports from Europe and the Middle East.
