M a r k e t N e w s

Tanzania Gas Gains at U.S.$3 Billion

Posted on : Tuesday , 19th August 2014

 Dar es Salaam — Tanzania value of export of gas which is a net of repatriate earnings is set to be $3 billion per annum over the period 2023 - 2050.


This means in 27 years the value of gas exports will be $81 billion once the international oil companies start the actual extract of the natural resources.


Tanzania estimates of gas reserves are frequently being updated. The reserves of natural gas in the offshore are about 30 trillion cubic feet (tcf) and onshore are about 5tfc.


However the international oil companies will a decision in 2016 whether to extract the gas or not, the Tanzania Natural Resources Charter prepared by the Uongozi Institute noted.


Presenting the charter to consultants with higher education and research institutions, the Lead Researcher of the Uongozi Institute, Prof Ammon Mbelle said the natural resources will also generate a lot of money to the government.


"The government revenue receipts on gas estimated to be between $2 billion and $2 .5 billion per annum over a period 2023 to 2050," Prof Mbelle said. This means in 27 years the government will earn over $67.5 billion.


Prof Mbelle said the natural resources management should secure the greatest benefit for citizens through an inclusive and comprehensive national strategy, clear legal framework and competent institutions.


The investment on the exploration and production of natural gas in Tanzania is projected to grow to between $10 to 20 billion in the coming decade the government said.


Tanzania is a growing market with ongoing exciting discoveries of natural gas which including 19 exploration blocks.


Over the past two years, explorations in Tanzania's deep offshore waters have led to the discovery of about 45 trillion cubic feet (tcf) of natural gas, Minsiter for Natural Resources, Prof Sospeter Muhongo said.


The country's Natural Resources Charter is a framework that gives guidance on the chain of complex economic decisions that have to be made in order to transform extractive wealth under the ground into development above ground.

Source : allafrica.com
Featured Companies
  • Bajaj Auto
  • Tire Group International, LLC.
  • /
  • TITAN Containers A/S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  • Kenya Engineer is a Journal of the Institution of the Engineers of Kenya
  •  K & S Financial Group is the link between the end buyer and a reputable Russian refinery.
  • Mini plants of toilet paper rolls production
  • Prisma s.r.l. is an industrial reality, qualified in the study and the production of automatic doors for lift.
  • Narrowtex is a fully integrated company with processes such as warping, weaving, knitting, dyeing, finishing, make-up and packaging
  • Manufacturers & Exporters of hand tools, garden tools & leatheer tool pouches.
  • Save your power bill by instaling servo voltage stabilizer.
  • The trusted source for all your heavy  equipment needs!
  • GLOBE GAS specialises in Multi Cylinder installation, Pipeline Installation, LPG Tank (Bulk) Installation, Designing Kitchen Layout etc.
  • REGO GmbH is the Rego Distribution Center located in Central Germany.
  •  Magazine for Africa
  • All type conveyor belts for internal & external location tapis roulant de tout genre pous deplacement a l
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • Speco Ltd. is the leading manufacturer & supplier of Asphalt Mixing Plant, Concrete Batching Plant, Crushing Plant & Optimized Integrated Flue Gas Treatment System.
  • Used Machinery
  •  Ugur Seluloz Kimya A.S. is a leading Sodium Carboxymethyl Cellulose & Polyanionic Cellulose manufacturer, located in Turkey.
  • Leading manufactures and expoters of the electronic products
  • From a modest beginning in 1955, the IGP Group today provides over 50 products and services to the core sector.
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  •  Unipro was born to transmit and give itís experience in trading high quality safety equipments ensuring high quality products under international standards required in the Oil and Gas, Mining, Construction, automotive, Steel and Chemical industries.
  • Manufacturer refrigerated-type air dryer, desiccant air dryer and compressed air in-line filter.
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  • Fuel Metering System
  • Manufacturing and marketing "aira" brand Valve Automation Products
  • Industrial  machinery
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2022 Afrotrade