Chad denies sale plans for export pipeline
Chad has no plans to sell a stake in its export pipeline to Cameroon, Société des Hydrocarbures du Tchad (SHT) has said in a statement.
Updated: 05/03/2021, 7:57 am
The Chad-Cameroon pipeline
Source: ExxonMobil
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Chad has no plans to sell a stake in its export pipeline to Cameroon, Société des Hydrocarbures du Tchad (SHT) has said in a statement.
(Business in Cameroon) - On March 3, 2021, Ibrahim Mahamat Djamous (director-general of Chad National Hydrocarbon Company-SHT) published an official release denying information about Cameroon’s offer to buy the Chadian 21% stake in the Chad–Cameroon Petroleum Development and Pipeline Project. The said information was published online by daily
Africa Intelligence and relayed by numerous media. The online media
Africa Intelligence, in its February 24, 2021 edition, reported that facing enormous financial challenges, the government of the Republic of Chad is speeding up the partial sales of its stake in the Chad-Cameroon pipeline to Cameroon s National Hydrocarbons Company (.) As the manager of state assets in the Chad-Cameroon oil pipeline, Chad National Hydrocarbon Company (SHT) wishes to formally deny this baseless information, which is only aimed at tarnishing the image of the Republic of Chad, Ibrahim Mahamat Djamous wrote.
Africa Intelligence revealed that The National Hydrocarbons Corporation (SNH) of Cameroon
offered XAF150 billion to buy Chadian National Hydrocarbon Company (SHT)’s 21% stake in the Chad–Cameroon Petroleum Development and Pipeline Project.
According to the online daily, the offer was made in January 2021 through a correspondence sent to SHT by Galileo Negoce & Conseil, a Chadian institution that acts as SHT’s counsel in the framework of that transaction. The said transaction was first discussed in 2018, through written correspondence between Adolphe Moudiki, Director-general of the SNH, and Béchir Madet, then Chadian Minister of Energy.
Although the offer has not been confirmed by the involved parties yet, it is in line with the actions initiated by Cameroon in recent years to boost its gains in the pipeline mainly located on its territory.