A note made available on the website of the Angolan embassy in that country refers that the Zambia executive "regards 'absolute priority', the resumption of technical discussions with Angola, aiming at the establishment of a definitive agreement, enabling the construction of an oil pipeline, connecting the two countries".
The intention was expressed by the Zambian energy minister during an audience granted to Azevedo Francisco, the Angolan ambassador in that country.
In addition, the Zambian government official also referred that his government intends to work "intensely" so that the idea of the oil pipeline goes from paper to "reality".
According to the statement, the minister of Energy of Zambia also referred to Azevedo Francisco that "this week, he would meet again with the Angolan diplomat, this time, with the presence of private operators, selected by his government, in the framework of the strategy for the construction of the pipeline".
The construction of the oil pipeline, which will make it possible to transport fuel and gas from Angola to Zambia, "is the great hope of the neighboring country in balancing the prices of these two fundamental items in its economy".
Chibwe Capala recalled that his country buys oil products from Asian markets, admitting that the "first impact of the pipeline will be the reduction of the costs of these products".
In turn, the Angolan diplomat presented an assessment of the implementation of the various official agreements signed between the two countries in the energy sector and called for their implementation.
He also highlighted Angola's interest in seeing the idea of the oil pipeline realized, "a meeting of the technical group should be scheduled soon, to relaunch negotiations".
Little is known about the project, however it is estimated that the project is budgeted at around US$5 billion and that the starting point will be the Port of Lobito: "A preliminary budget for the construction of the pipeline, having as its point of departure of origin, in Angola, the Port of Lobito, indicates values around five billion dollars", states the note.
Regarding the budget, experts say that this amount "represents only an indicative figure, since definitive technical studies have not yet been concluded".
In addition to the pipeline, the two countries also want to "interconnect the electricity grids of the East and West regions of Angola and Zambia".
According to the statement, the project "involves the supply of electricity from Zambia to Angola, at a time when, according to the Minister of Energy of Zambia, his country is producing energy beyond its consumption capacity".
Smart Energy, a company incorporated under Zambian law, is leading the initiative that aims to electrify the various regions of eastern Angola.
