Munich Re refuses to underwrite East African oil pipeline project

Munich Reinsurance Co. has confirmed that it will not provide “direct, facultative and primary” cover to the East African Crude Oil Pipeline – an 897-mile long heated pipeline between Uganda and Tanzania – as it is against its decarbonization efforts outlined in 2020, Energy Voice reported. The pipeline will be operated by oil and gas companies TotalEnergies SE and CNOOC Uganda.