TotalEnergies has signed a memorandum of understanding (MoU) in Rwanda ahead of a final investment decision (FID) in Uganda tomorrow.
Patrick Pouyanné visited Rwanda and reached an agreement to support the Rwanda Development Board.
The agreement covers product distribution, LPG, hydropower, power storage for the network, nature-based solutions for carbon storage and training programmes on the energy transition.
“This collaboration agreement illustrates TotalEnergies’ commitment to deploying its multi-energy strategy in Africa, particularly in Rwanda, a country with a booming economy,” said Pouyanné, chairman & CEO of Total.
“We are pleased to seize this opportunity to work together with Rwanda and contribute to the development of its energy sector, in line with TotalEnergies’ ambition to become a global multi energy company”
The CEO of the Rwanda Development Board, Clare Akamanzi, said the investment from Total was “timely for a country that puts the environment at the heart of its development strategies. Additionally, the skills transfer in critical areas such as renewable energies and energy transition will undoubtedly contribute to the development of local expertise in the energy sector.”
Happening now: Business forum between TotalEnergies, a global multi-energy company represented by Chairman and CEO Patrick Pouyanné, and Rwanda's private sector members. The forum aims to explore areas of collaboration between @TotalEnergies and companies from Rwanda. pic.twitter.com/1pLW1MuSW7
— Rwanda Development Board (@RDBrwanda) January 30, 2022
The French company also announced the incorporation of a local branch, TotalEnergies Marketing Rwanda. It has also opened a permanent office in Kigali.
Rwanda has been involved in the counterinsurgency in northern Mozambique, where Total is working to build a major LNG project. The company declared force majeure in March 2021 following a terrorist attack.
The European Union (EU) has expressed support for Rwanda’s security work in Mozambique. EU ambassador to Rwanda Nicola Bellomo last week said there was an “ongoing discussion on possible EU support to Rwanda and to identify new avenues to promote and preserve peace and security on the continent”.
There has been speculation that France – or Total – may have been bankrolling Rwanda’s involvement. Kigali has rejected these suggestions.
Meanwhile, Uganda National Oil Co. (UNOC) expects to announce FID on February 1.
A few hours left….! #UgandaOilFID pic.twitter.com/tj99MHlYye
— UNOC (@UNOC_UG) January 31, 2022
Pouyanné visited Uganda in April, concluding the final agreements for the Lake Albert development. This covers the Tilenga project, in the country’s west, and the East African Crude Oil Pipeline (EACOP). The company has set the aim of achieving first oil by 2025.
CNOOC Ltd reached FID on the Kingfisher field in November 2021.
UNOC have scheduled a livestream, which will begin on February 1 at 7 am. The event will cover Tilenga, Kingfisher and EACOP.