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Browsing: IOCs
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Energy multinationals Shell, Equinor, and ExxonMobil have finalised vital talks on Tanzania’s $40 billion Liquified Natural Gas investment.
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The move paves the way for final agreement on how to execute the long-delayed energy project that will significantly boost Tanzania’s revenues and create jobs.
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President Samia Suluhu Hassan’s government expects the construction of the project to start in June 2025.
Tanzania is preparing the final deal to guide harnessing her $40 billion offshore gas reserves following the conclusion of talks with energy giants Shell, Equinor, and ExxonMobil. A final agreement on the $40 billion gas investment is in the works with signing expected in the coming weeks.
“The work is done… companies (IOCs) have gone to sit with their boards, and we are now awaiting the next steps. The government expects construction to start in June 2025” Managing Director of the Petroleum Upstream Regulatory Authority (PURA), Charles Sangweni, said the project’s …