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Friday, November 11, 2022
Tanzania’s Energy Minister January Makamba, stated that Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month for its planned $40 billion liquefied natural gas export project.
“It’s happening,” January Makamba said in an interview with Bloomberg on the sidelines of the COP27 climate conference in Sharm el-Sheikh, Egypt. “In December, we will conclude the conversation. We are in the fiscal package discussions now.”
According to the Bloomberg reporting, Makamba says a final investment decision could be reached in January 2025, allowing exports to start before 2030.
The project has been long delayed and has seen new players come and go. In August 2016, then president John Magufuli said he wanted to fast-track development of the abundant natural gas resources. In April 2017, it was announced a Draft Agreement was ready to go but the project has not seen much progress since that time.
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