Browsing: LNG investments in Tanzania

The 1,443km EACOP pipeline has been constructed at a value of US$3.5 billion which has seen Tanzania effectively increase its FDI by over 60 per cent during the construction phase alone.
This week, Tanzania President Samia Suluhu is in the United States and is meeting with among others, US VP Kamala Harris. During the official business trip, Suluhu is expected to get contracts for the construction of ports, railroads, power plants and coal and iron ore mines in the country’s northeast region.

Overall, Tanzania is looking to attracting investments of US$40 billion in the energy sector at a time the world is caught up in the melee between Russia and Ukraine which has upset the global energy sector.

For Tanzania to benefit from Europe’s rush to diversify its energy sources, Suluhu needs to speed up LNG projects by opening up the sector to new investors and revising legislation to achieve long-term economic growth.