real-time news and commentary for investors
Wednesday, Aug 21
Tanzania expects fivefold increase in gas reserves by 2015
- Tanzania expects its gas resources to increase fivefold to 200T cf within the next two years if new finds prove productive.
- Discoveries offshore Tanzania and Mozambique have led to predictions the region could become the world's third-largest exporter of natural gas, with the country strategically located for exports to Asia.
- Exxon Mobil (XOM), Royal Dutch Shell (RDS.A, RDS.B), Petrobras (PBR), Statoil (STO) and BG Group (BRGYY.PK, BRGXF.PK) are among companies already operating in Tanzania.