Post #109

Putin ratified the agreement with Congo on the construction of an oil pipeline Russian President Vladimir Putin signed a law on the ratification of the agreement with the Republic of Congo on the construction of the Pointe Noire - Lutete - Maluko - Trecho oil pipeline. The project is being implemented by a joint venture with the participation of Russia's Zakneftegazstroy-Prometey (90%) and the National Oil Company of Congo (10%). The concession agreement is designed for 25 years with a guaranteed tariff for pumping. Russia will provide the missing volumes of oil products with the involvement of its producers. After the end of the concession period, the pipeline will come under the control of Congo. For Congo, this is a step towards developing infrastructure and reducing dependence on imported fuels and lubricants. However, experts note the risks - a possible financial burden due to guaranteed tariffs and dependence on Russian supplies. The project will become a new point of economic cooperation between Moscow and Brazzaville, but its success will depend on the sustainability of logistics and prices for oil products. #AREA#Africa#RussiaAfrica#Russia#Congo