Tanzania’s Energy Minister Medard Kalemani will give updates on the recently announced plans for a syndicate of oil companies to commence construction of the US$30bn LNG project in 2022
He will provide the update at the Tanzania Oil and Gas Congress in Dar es Salaam in October.
The government stated in March that it was planning to complete negotiations in September with a group of international oil companies to develop the project. Led by a Norwegian energy company and congress platinum sponsor Equinor, the group also includes Royal Dutch Shell, ExxonMobil, Ophir Energy and Pavilion Energy.
These international companies will work closely with the state-run Tanzania Petroleum Development Corporation (TPDC) on the project.
In a budget presentation to parliament, the minister stated that the project aims to conclude in 2028 and will have the capacity to produce 10mn tonnes of LNG per year.
Currently, each project investor is holding separate talks with the government negotiating team. These talks are expected to be finalised within seven months.
Work on the project will increase annual economic growth, which now stands at around seven percentage points, by another two percentage points, according to the Bank of Tanzania.
The delegates at the event will be the first to hear directly from the minister of energy, government representatives, regulators and industry leaders about the exciting investment opportunities in Tanzania.
