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Tuesday, May 28, 2013
Tanzania’s new drafted policies for its burgeoning natural gas industry are aimed at benefiting the whole country and not just a few in the upper echelons. The policy is being enacted to “ensure that the domestic market is given first priority over the export market in gas supply.”
The draft policy paper seen by Reuters proposes gas companies list on the local stock exchange. It also calls for the creation of a gas revenue fund and locating plants onshore to liquefy the gas from the offshore fields.
The draft policy was submitted to the government for approval recently.
The region where a good portion of the natural gas has been discovered, Mtwara, has been picked as the site for Tanzania’s LNG facility to monetize the gas. The Mtwara region was also the site of a riot last week over a planned pipeline, with protesters saying that the pipeline would not benefit them.
This however is denied by the government. According to the 2013 draft natural gas policy its main aim is “to develop the capacity of Tanzanians to participate strategically in the natural gas value chain, the government shall ensure companies participating in the natural gas value chain are listed on the Dar es Salaam Stock Exchange.”
Tanzania Energy and Minerals Minister Sospeter Muhongo told parliament “Implementation of the natural gas policy will start in 2013/14 after a government decision.”
Muhongo said the government would also put in place an upstream oil policy and natural gas laws by next year.
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