Tanzania Nears Completion On $42bn LNG Project led by Equinor, Shell

Tanzania is close to concluding an agreement with a consortium of energy companies, including a $42 billion LNG project to transform the country into an East African regional energy hub.

The project is designed to tap the 47.13 tcf of gas discovered in Tanzania’s deep offshore fields, part of the country’s estimated 57.54 tcf in total discovered reserves, the sixth-largest in Africa, behind Nigeria, Algeria, Senegal, Mozambique and Egypt.

Equinor and Shell would be the lead operators, alongside involvement from ExxonMobil Pavilion Energy and Medco Energi. TPDC, Tanzania’s state oil company, would also hold an equity stake in the project. 

“It’s almost there,” Khamis Mussa Omar, Tanzania’s finance minister, told Reuters.