Tanzania announces new natural gas bill
DAR ES SALAAM, June 11, 2014 – Tanzania’s Minister of Energy and Minerals Sospeter Muhongo last week announced that a new regulatory treaty, aimed at guaranteeing that the benefits of exploration activity are directed towards the good of the country, is ready for parliamentary examination in November this year. A work in progress for the past few years, the executive expects the bill to have been written into law by the end of the first quarter of 2015.
The move follows the discovery of up to 991 bcm (45 tcf) in natural gas reserves, mostly offshore, by the likes of the BG Group, Statoil and ExxonMobil. The BG Group and Statoil are in the process of discussing the construction of an LNG plant with the government, as companies will move from exploration to production and exports become viable.