Ethiopia’s Ministry of Mining and Petroleum says the natural gas deposit identified so far could generate $6 billion revenue over 20 years. Chinese company is to develop and market it. Unclear how much Ethiopia is spending for the project
borkena
April 24, 2020
GCL-Poly Energy Holdings Limited, Hong Kong-based multi-billion dollar Chinese petroleum and natural gas developer, has signed a deal with the Ethiopian government on Friday, Ethiopian Broadcasting Corporation (EBC) reported.
The Chinese company provides oil & gas development, transportation, storage, sales services among other things.
According to the agreement, the company will construct a pipeline to make the natural gas available to a domestic and international market.
The product for the international market will be exported to Djibouti first, through a pipeline, and transformed into a liquid one. The company says, as reported by EBC, it can transform up to 215 million cubic feet of natural gas to liquid daily and make available up to 1.5 million metric tonnes of liquid natural gas.
It is also indicated in the agreement that about 190 million cubic feet of natural gas will be available daily for a local fertilizer company, yet to be constructed, as reported by the source.
Natural gas is developed in Kalubna and Hilala areas of the Ethiopian Somali region.
The Mining and Petroleum Ministry says Natural gas and oil exploration is underway in six regions in the Ogaden area. An estimated eight trillion cubic feet of natural gas is available in the region.
It is unclear as to when the project is starting. Moreover, how much the Chinese company is making from the project is unknown.
Based on a Reuters report, China’s POLY-GCL Petroleum Group Holdings Ltd has signed a memorandum of understanding (MoU) for a $4billion project with neighboring Djibouti.
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History bears witness that Dr. Teodros Adanhom Ghebreyesus’s political party the EPRDF had won majority of the votes at every governmenral elections in Ethiopia for close to three decades continuously until now, which is proof enough for everyone that Dr. Teodros Adanhom Ghebreyesus was and still is very well liked by almost all Ethiopians regardless what few jealous Ethiopian people say about him , Dr. Ghebreyesus only left the Ethiopian politics for the time being because he knew he can contribute better to the world if he joined W.H.O. , besides that he is confident he can run for the PM’s office of Ethiopia if he chooses to with EPRDF winning sweeping votes when he comes back to the Ethiopian politics,sooner or later the resilient EPRDF will be EPRDF once again just like before once Dr. Ghebreyesus returns back to the Ethiopian politics since he is tested by fire and percivered with his long time comrades such as the late World Class leader his Excellency the late PM of Ethiopia Dr. Meles Zenawi Asres who lifted most Ethiopians out of poverty in a very short period of time while bringing equality , justice , democracy and freedom to Ethiopia for the first time in the Ethiopian history.EPRDF has full authority to hold the election as scheduled in August 2020 if Dr. Teodros Adanhom Ghebreyesus chooses to return back to the Ethiopian politics before then.
Do not forget Social Performances
Social license
Community engagement
Community Development
No objection
I very happy this Chinese company and Ethiopian politics and I hope will be one will be binging this deal and I am dealer