The government will next month hold talks with a Norway based company, Equinor ASA as the latter eyes to invest in Tanzania's Liquefied natural gas (LNG) sub-sector.
Energy Minister January Makamba revealed this on Thursday after meeting with the company's representatives team led by Senior Vice President, Exploration & Production International – Africa, Paul McCafferty.
According to Mr Makamba, the negotiations between the two parts will take place November 8, 2021.
“We both sides have expressed optimism over investment on LNG. We will start negotiations on November 8, 2021,” he said.
Apart from the Equinor Company, other companies expected to develop the LNG terminal are the Royal Dutch Shell, Exxon Mobil and Ophir Energy and Pavilion Energy.
The multilateral companies plan to build the onshore LNG plant in Lindi region.
Tanzania expects a consortium of international oil companies to start building a long-delayed liquefied natural gas (LNG) project in 2023 and to be concluded in 2028.
The implementation of the project gained momentum as of March this year, when President Samia Suluhu Hassan directed her administration to fast-track delayed investments.
President Samia Suluhu Hassan revived negotiations on the historic 30 billion US dollars Liquefied Natural Gas (LNG) project in Lindi Region, saying it will bring tremendous opportunities and transform the country’s economy.