The UAE is planning to build an oil pipeline connecting Eritrea and Ethiopia.
The pipeline will run from Eritrea’s port city of Assab to Ethiopia’s capital Addis Ababa, an Ethiopian official was quoted in media reports.
Landlocked Ethiopia began extracting crude oil on a test basis from reserves in the country’s southeast in June and will need access through Eritrea in order to export it.
Ethiopian broadcaster Fana first reported the pipeline plan on 10 August following a meeting in Addis Ababa between Ethiopian Prime Minister Abiy Ahmed and Reem Al Hashimy, the UAE’s minister of state for international cooperation.
The UAE has reportedly played a behind-the-scenes role in helping Ethiopia and Eritrea end a two-decade state of war last month.
Hashimy said after meeting Abiy that the UAE is keen to exploit investment opportunities in Ethiopia, a country of 100 million people with the fastest growing economy in Africa.
The talks were largely on investment in industries, agriculture, real estate, the oil pipeline, and resorts; the opportunities are under study, reports said.
This article has been unlocked to allow non-subscribers to sample MEED’s content. MEED provides exclusive news, data and analysis on the Middle East every day. For access to MEED’s Middle East business intelligence, subscribe here |
You might also like...
Ruwais LNG full EPC award expected in June
29 March 2024
PIF entity makes $1bn Lucid placement
29 March 2024
Petro Rabigh awards KBR maintenance contract
29 March 2024
Diriyah Company seeks firms for demolition work
29 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.