The offshore project’s initial projected cost was $30 billion, however some current industry sources put the figure at $40 billion.
As it prepares to sign the host government agreement and begin the front-end engineering design of what will become the largest energy project in eastern and southern Africa, Tanzania estimates that the cost of developing its liquefied natural gas (LNG) project is $42 billion after the most recent technical analysis.
In Kampala, Tanzania pitched an additional 26 exploration areas, both onshore and offshore, that will be up for grabs by year’s end in the nation’s first licensing round since 2013, in order to find more hydrocarbons. He was speaking on the sidelines of the 10th East African Petroleum Conference and Exhibition.
