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How Natural Gas Is Set To Be Tanzania's New Gold

Tanzania has an estimated 57 trillion cubic feet of natural gas reserves. On April 29, 2022 the extractive sector has been taken to another level with the signing of an agreement between the government and exploration companies, to construct a vast Liquefied Natural Gas (LNG) plant worth U.S.$30 billion.

A team of experts are said to be in negotiations with five oil and gas firms - Shell, Equinor ExxonMobil, Pavillon and Ophir - as the project will be executed in the Lindi region, south of Tanzania. The Tanzania Liquefied Natural Gas Project (TLNGP) has been a long-time dream for the country, which has been marred by various setbacks. The projected which was slated for 2014, was slowed again in 2019, when the government suspended agreement talks with investors, so that it could review its production sharing agreement.

The project will reportedly improve job creation - with more than 5,000 jobs during the construction phase and 4,000 to 6,000 jobs, during operations.

InFocus

Capital FM

(file photo).

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