Rt. Honourable Speaker and Honourable Members of Parliament the purpose of this statement is to: -
i) Present the key terms agreed in the agreements for the East Africa crude Oil Pipeline (EACOP)
ii) Lay three (3) agreements before the House, namely, the Host Government Agreement, the Tariff and Transportation Agreement and Shareholders Agreement for the EACOP.
The Agreements signed are aimed at facilitating the development of the East African Crude Oil Pipeline (EACOP). It is estimated that about US$ 15 Billion will be invested in the sector within four (4) years. This investment is expected to have significant direct, indirect and induced benefits on all sectors of the economy.