ADDIS ABABA:- Ethiopia will start exporting natural gas by 2021 says Ministry of Mines, Petroleum and Natural Gas Resources.
According to Public Relations and Communications Director of the Ministry, Michael Mengesha, the prospect of natural gas export will help the country’s foreign currency augmentation.
Michael added that, once Ethiopia started exporting the natural gas, it will earn up to one billion $US during the first year of exporting based on the estimated periodic world price.
The natural gas export would be carried out through moderate transferring pathway of East African infrastructure under construction means that the benefit would be for the transmitters and receivers as well.
Earning foreign currency from the export of natural gas is expected to be accelerated to seven billion USD in seven consecutive years and will be upgraded when the infrastructure development completed and the pathway gets fully operational, Michael added.
Last March, Ethiopia and Djibouti have signed an agreement to speed up the construction and operation of natural gas export pathway.
The agreement involves a lot of activities; among which is the construction of 700 kilometers pipeline from the production area in Ethiopia’s Somali Region to Djibouti which will host 67 kilometers of the pipeline.
The completion and operation of the project is expected to strengthen the Horn of African peace and development, economic resource sharing culture, expand trade relations and business opportunities apart from benefiting the two countries: Ethiopia and Djibouti, he expressed.
The Ethiopian Herald April 14 2019
MY MUSSA MUHAMMED
