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Thursday, May 23, 2024
Rosetta Energy Solutions, a subsidiary of Taqa Arabia, announced the signing of a Heads of Terms (HoT) agreement with Tanzania Petroleum Development Corporation (TPDC) and Africa50 to develop Tanzania’s first Small Scale Liquefied Natural Gas (LNG) project.
This new venture will invest in, develop, and operate Tanzania’s first LNG Virtual Pipeline. The project will feature a small-scale liquefaction plant in Dar es Salaam, a fleet of cryogenic containers for road transportation, and regasification plants near customer locations to convert LNG back to natural gas.
The Virtual LNG Pipeline will provide reliable, economical, and clean energy to households, industries, and transportation sectors. With a modular design allowing scalable LNG capacity to match varying demand, the virtual pipeline can accommodate fluctuating energy demands in developing areas where future growth in energy needs is anticipated. Rosetta Energy aims to establish Tanzania as a regional energy hub, leveraging the extensive expertise of TAQA Arabia in gas, renewables, LNG, power, and water solutions.
Karim Shaaban, CEO of Rosetta Energy, stated, “This agreement is a key milestone for what we aspire to be Tanzania’s first LNG development. It underscores our commitment to enhancing Tanzania’s natural gas infrastructure, providing competitively priced and reliable energy to foster sustainable industrial growth and local community prosperity. With a target investment exceeding $100 million, the project will generate multiple jobs throughout the value chain, significantly contributing to domestic GDP and local content development. Together with our partners, we aim to accelerate the project with potential construction starting as early as 2025.”
Rosetta Energy is proud to partner with Africa50, a Pan-African Investment Platform established by African countries and the African Development Bank to help bridge Africa’s infrastructure funding gap by facilitating project development, mobilizing public and private sector finance, and investing in infrastructure on the continent.
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