The State Duma Committee on International Affairs recommended ratifying the intergovernmental Agreement between Russia and the Republic of the Congo on cooperation in the construction of the Pointe-Noire-Lutete-Maluko-Trecho oil pipeline. The bill was proposed to be considered at a plenary session on May 21.
The document was signed in Moscow on September 28, 2024. The authorized organizations of the parties responsible for the implementation of the project are: from the Russian side – Zakneftegazstroy-Prometey LLC, from the Congolese side – the National Oil Company of the Congo, acting as the customer for the project.
In order to implement the project, the authorized organizations of the parties, within one month from the date of signing the Agreement, shall establish, in accordance with the legislation of the Republic of Congo, a joint venture in which the authorized organization of the Russian side and its affiliated organizations shall have a 90% share of joint participation, and the authorized organization of the Congolese side shall have a 10% share.
The competent authorities of the Congolese side shall, for the implementation of the project, within 3 months from the date of entry into force of the Agreement, conclude a concession agreement with the joint venture for the construction and subsequent operation of the pipeline for a period of at least 25 years with a guaranteed tariff for pumping petroleum products, which will ensure the loading of the pipeline and guarantee the return on investment.
The concession agreement shall provide for the right of the joint venture to create project assets, own them, operate them and use them commercially during the term of the agreement, as well as the procedure for the subsequent transfer of ownership of the project assets to the Congolese side.