In March, the government stated that it planned to complete negotiations with a group of international oil companies in September to develop the project. Led by Norwegian energy firm, and Platinum Sponsor of the Congress, Equinor, the group also consists of Royal Dutch Shell, ExxonMobil, Ophir Energy and Pavilion Energy.
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Minister of Energy to provide updates on 2022 LNG Plant Construction at Leading Oil & Gas Congress
Hon. Dr Medard Kalemani, Tanzania’s Minister of Energy, has confirmed his attendance at the Tanzania Oil and Gas Congress this October where he will give updates on the recently announced plans for a syndicate of oil companies to commence construction of the $30bn LNG project in 2022.
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These international companies will work closely on the project, alongside the state-run Tanzania Petroleum Development Corporation (TPDC).
In a budget presentation to parliament, the Honourable Minister stated that the project aims conclude in 2028 and will have capacity to produce 10 million tonnes per annum of LNG.
Currently, each individual investor of the project is holding separate talks with the government negotiation team. These talks are expected to be finalised within seven months.
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According to the Bank of Tanzania, work on the project will increase annual economic growth, which currently stands at around 7%, by another two percentage points.
Those keen to learn more about the movements in Tanzania’s gas market would find it beneficial to attend the Tanzania Oil & Gas Congress, which brings together key players in Tanzania’s oil and gas value chain.
Delegates at the high-profile event, which takes place in Dar es Salaam on 2 – 3 October 2019, will be the first to hear about Tanzania’s exciting investment opportunities directly from the Minister of Energy, Government representatives, regulators and industry leaders. Find out more at CWCTOG.com
Distributed by APO Group on behalf of CWC Group Limited.
Members of the press are invited to cover the Congress by registering online here:https://bit.ly/2ZglZ9w
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About the CWC Group: The CWC Group (https://www.TheCWCGroup.com/) is a recognised world expert in the LNG, oil and gas, power and investment sectors, with particular expertise in emerging markets. We have a wealth of knowledge offering top-level strategic events around the world. We work closely with many governments, NOCs and international corporations to highlight the key issues and challenges facing the global energy industry and facilitate debate to find solutions.
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