Frontrunner Emerges for East African Crude Oil Pipeline, but Funding Challenges Remain

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Researched by Industrial Info Resources (Sugar Land, Texas)--With initial hurdles seemingly past, Total S.A. (NYSE:TOT) (Paris, France) and partner CNOOC International (Beijing, China) are moving ahead with the 1,445-kilometer East African Crude Oil Pipeline (EACOP) between Uganda and Tanzania.

China Petroleum Pipeline Engineering Company recently emerged as the front runner for major portions of the project. However, a number of European lenders have stepped back from the project, citing environmental risks and other related issues, leaving uncertainty as to how the project will be financed.

Industrial Info is tracking more than $3.3 billion worth of projects related to the 24-inch pipeline, which is designed to transfer 216,000 barrels of oil per day from Uganda's Tilenga and Kingfisher oilfields to the Tanga port in Tanzania. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Pipeline Project Database can click here for a list.

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