The South Sudan Oil & Power (SSOP) 2022 conference and exhibition (https://bit.ly/3A1hgvV) this week in Juba focuses on the role the country plays as a gateway to East Africa’s energy development, and as such, is an official platform for signing deals that will contribute to the development of the regional energy sector. To this end, a Memorandum of Understanding (MoU) was signed between Djibouti and South Sudan on the first day of the conference to strengthen cooperation in the energy sector of both countries.
The signing was conducted by the Minister of Energy and Natural Resources of Djibouti, Younis Ali Guedi, and the Minister of Petroleum of South Sudan, Hon. Puot Kang Cheol. Under the terms of the cooperation agreement, the two countries agreed to expand trade, investment and cross-border energy opportunities, using regional cooperation to expand the energy sectors in Djibouti and South Sudan.
“Djibouti is now open to East African markets. We are waiting for all the investors to come to Djibouti. We facilitated the entire process of creating a free zone in Djibouti. Now we have signed a Memorandum of Understanding and will work together,” said J.E. Guedi.
“The agreement we signed is a cooperation agreement between the Republic of South Sudan and Djibouti in the field of oil and gas. What is important is that we are very interested in opening rooms not only for us but for all South Sudanese. As a landlocked country, without access to the rest of the world we will not be able to export. Now, with the MoU, we have three routes. Through Sudan, Kenya and now Ethiopia through Djibouti,” said Hon. Man.
In addition, J.P. Chol emphasized that the MoU has paved the way for South Sudanese companies and stakeholders to take advantage of opportunities across the region, and Djibouti represents the first step.
“Now that we have signed this MOU, you have the opportunity to go to Djibouti and explore the opportunities that are there because they will be doing the same here. You have the opportunity to work elsewhere. We will work closely with that country and encourage you to go there, identify opportunities and we will support you,” Hon. Chol concluded.
As for South Sudan, the MoU reaffirms the country’s position as the energy gateway to East Africa, allowing the country to leverage and share its expertise in the energy sector in pursuit of regional market development. Meanwhile, for Djibouti, as a relatively young energy sector, the MoU ushers in a new era of industrial growth based on regional cooperation.
Distributed by APO Group on behalf of Energy Capital & Power.
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