• About Us
  • Contact
Wednesday, March 22, 2023
No Result
View All Result
NEWSLETTER
The Business Wiz
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
  • Home
  • Featured News
  • Economic
    • Currency
  • Investment
  • Markets
    • Stock Market
  • Sectors
    • Agriculture
    • Commodities
      • Markets
    • Construction
    • Energy
    • Financial Services
    • Information Technology
    • Infrastructure
    • Manufacturing
    • Markets
    • Mining
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation
No Result
View All Result
The Business Wiz
No Result
View All Result
Home Sectors Energy

Final decision on Tanzania’s $40 billion gas plan seen in 2025

by Editor
13/06/2022
in Energy
0
Final decision on Tanzania’s $40 billion gas plan seen in 2025
Share on FacebookShare on Twitter

Tanzania is edging closer to its dream of developing a $40 billion liquefied natural gas project after the government and companies, including Equinor ASA and Shell Plc, signed initial agreements.

Energy Minister January Makamba (second left) signs Host Government Agreement (HGA ) with officials from Equinor ASA and Shell Plc in Dodoma at the weekend. Looking on at the center is President Samia Suluhu Hassan.

The latest signing precedes a Host Government Agreement which is expected by the end of this year, according to President Samia Suluhu Hassan. The so-called HGA sets out the technical, commercial and legal terms of the project.

Developing the LNG-export project could start soon after a final investment decision within three years, and would come after about a decade of prolonged negotiations. Other companies involved include ExxonMobil, Pavilion Energy and Medco Energi.

“We expect the final investment decision on the LNG project to be reached in 2025,” Hassan said in a speech at the signing event on Saturday in the capital, Dodoma.

The announcement comes as several western governments seek alternative sources of fuel amid a drive to cut their dependence on Russian energy following President Vladimir Putin’s invasion of Ukraine. The urgency gives Hassan’s push to accelerate the project fresh impetus.

Tanzania has recoverable natural gas reserves of more than 57.5 trillion cubic feet, according to Energy Minister January Makamba.

It would join with neighboring Mozambique to develop Africa’s new LNG hub. Mozambique is, however, struggling with an insurgency that saw TotalEnergies SE suspend operations at its multi-billion project in the southeast African country.

Source: Bloomberg

Editor

Editor

Next Post
DSE equity turnover slumps by 80 pct to 947.2m/-

DSE equity turnover slumps by 80 pct to 947.2m/-

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Exchange Rate

Exchange Rate USD: Wed, 22 Mar.

Recommended

‘Omanis keen on buying real estate in Zanzibar’

‘Omanis keen on buying real estate in Zanzibar’

5 months ago
Tanzania company to produce, sell coal from Rukwa mine on behalf of Edenville

Tanzania company to produce, sell coal from Rukwa mine on behalf of Edenville

7 months ago

Popular News

    News

    Get latest news from us.


    SUBSCRIBE

    Category

    • Agriculture
    • Aviation
    • Banking
    • Commodities
    • Construction
    • CSR
    • Currency
    • Economic
    • Energy
    • Featured News
    • Financial Services
    • Information Technology
    • Infrastructure
    • Investment
    • Jobs
    • Manufacturing
    • Markets
    • Mining
    • Others
    • Q&A Interviews
    • Real estate
    • Telecomunication
    • Tourism
    • Transportation

    About us

    The Business Wiz (TBW) is Tanzania’s premier one-stop online platform providing in-depth, accurate and timely business news, analysis, commentary and online business information portals and research.

    • About Us
    • Contact

    © 2022 The Business Wiz

    No Result
    View All Result
    • Home
    • Featured News
    • Economic
      • Currency
    • Investment
    • Markets
      • Stock Market
    • Sectors
      • Agriculture
      • Commodities
        • Markets
      • Construction
      • Energy
      • Financial Services
      • Information Technology
      • Infrastructure
      • Manufacturing
      • Markets
      • Mining
      • Real estate
      • Telecomunication
      • Tourism
      • Transportation

    © 2022 The Business Wiz

    en English
    ar Arabiczh-CN Chinese (Simplified)en Englishfr Frenchde Germanit Italianru Russianes Spanishsw Swahili