I addressed the 7th Annual Uganda International Oil & Gas Summit (UlOGS) at Serena Hotel in Kampala. I reiterated that our oil exploration plans will proceed as prior despite the wrongly-placed criticism from European Union MPs.
Although I did not initially support the idea of a pipeline given the 12.7 American cents that will be charged as tariff transportation for each barrel, East Africa has got numerous energy needs and therefore both a refinery and pipeline will be of great value.
In the spirit of the EAC integration & brotherhood with Tanzania we will also benefit from getting gas from there. While we have oil here, we don’t have so much gas.
Tanzania and Mozambique have got more gas and the Tanzanian government has agreed that the corridor through which the pipeline will pass, can bring a return pipeline to bring gas from either Tanzania or Mozambique for our area here.
I also want to assure the country that electricity tariffs will continue to go down to spur economic growth through industrialization.
The government power must be preferably 5 cents per unit or not more than 8.16 cents. I am in touch with some groups who are willing to provide even power cheaper to Ugandans.