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2019-03-25 11:10:00

TANZANIA'S LNG $30 BLN

TANZANIA'S LNG $30 BLN

BLOOMBERG - Tanzania plans to negotiate terms for developing a $30 billion liquefied natural gas project with companies between April and September, the Energy Ministry said.

The talks are aimed at reaching a so-called Host Government Agreement, the pact that governs the rights and obligations of parties with respect to the development, construction and operation of the project. Equinor ASA, one of the companies involved, could sign the accord after the talks, according to the emailed statement.

Negotiations between the government and international oil companies, which started in 2017, have so far failed to lead to a deal. The project is meant to enable the export of gas from Tanzania.

The talks will ensure all parties involved will benefit fairly from the project, Energy Minister Medard Kalemani said at a meeting with Equinor executives in Tanzanian capital, Dodoma. Other companies involved in the project include Royal Dutch Shell Plc and Ophir Energy Plc.

Equinor is committed to the development of the project, Mette Halvorsen Ottoy, a senior vice president at the company said in the statement.

Tanzanian President John Magufuli said he would pursue partnerships that enable his nation to benefit more from its resources. The country has an estimated 58 trillion cubic feet of natural gas reserves.

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Earlier:

TANZANIA & UGANDA PIPELINE: $4 BLN
2016, June, 22, 18:05:00

TANZANIA & UGANDA PIPELINE: $4 BLN

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 TANZANIA OFFSHORE GAS: 216 MB
2014, October, 14, 20:05:00

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Norwegian oil company Statoil ASA ( STO ) said Tuesday that with its partner ExxonMobil Corp. ( XOM ) it has discovered 1.2 trillion cubic feet of natural gas, or 216 million barrels of oil equivalent, in the Giligiliani-1 well offshore Tanzania, the joint venture's seventh discovery in the block 2 area.

 
 TANZANIA STEPS UP
2014, June, 3, 18:20:00

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Tanzania Steps Up Effort to Develop Oil & Gas Sector

 
 TANZANIA: OIL SELLS
2014, April, 2, 08:11:00

TANZANIA: OIL SELLS

Tanzania: Ophir Oil Sells Blocks to Rival Pavillion

 
 
 
 
 
 

 

Tags: TANZANIA, LNG, GAS