Tanzania offers promising natural gas outlook, IMF says

|By:, SA News Editor

Tanzania has a strong chance of becoming a major producer and exporter of natural gas over the next decade, according to the IMF, noting significant offshore discoveries made in the last 2-3 years and further exploration now underway.

Although gas resources haven’t yet been declared commercially viable, estimates of discoveries indicate recoverable offshore gas resources of at least 24T-26T cf, potentially sufficient for a four-train liquid natural gas plant, the IMF says.

Exxon Mobil (NYSE:XOM), Statoil (NYSE:STO) and BG Group (OTCPK:BRGXF, OTCQX:BRGYY) are planning to build the country's first LNG export plant.