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Africa Oil & Gas: Tanzania’s LNG project could reach USD 30 bln

Tanzania’s LNG project could reach USD 30 bln
Tanzania’s LNG project could reach USD 30 bln

Tanzania is neck and neck in a race with its neighbouring Mozambique to be the first exporter from the Africa’s east. Large LNG players like BG Group, Ophir Energy, Exxon Mobil or Statoil are making progress in taping Tanzania’s gas reserves with huge offshore discoveries recently.

Reuters reports the Energy and Minerals Minister, Sospeter Muhongo say at a press conference that the investment in the LNG facility is between $20 billion and $30 billion. He declined to reveal the proposed site for the plant.

The minister further said that the preparations are under way for the biggest investment in country’s history, but he did not comment on how the cost of the project would be covered.

He did also note that a long-awaited new gas legislation is 75% complete and that it will be in place before major investments are made.(By lngworldnews.com)

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