With estimated recoverable gas resources of around 57 trillion cubic feet (tcf), Tanzania will be featured as part of an East Africa regional focus at Invest in African Energy (IAE) 2024, as the country seeks partners for various exploration, development and processing activities. With the ongoing Tanzania LNG project and major offshore gas discoveries, the country is poised to become a major LNG exporter.
Three things to know:
- Tanzania LNG Project: Tanzania is working to become a major LNG exporter thanks to the Tanzania LNG Project, which involves large companies such as Equinor, Shell and ExxonMobil.
- Regional Leadership in LPG Distribution: Tanzania has established itself as a regional leader in LPG distribution due to its strategic location on the Indian Ocean and important infrastructure such as the Kigamboni LPG Terminal.
- New investment opportunities: Tanzania is preparing to launch the fifth round of oil industry licensing by 2024, with the aim of attracting foreign investment in the upstream sector.
Invest in African Energy 2024, organized by Energy Capital & Power, will provide an important platform for engagement between African energy markets and international investors. Tanzania is leveraging its geographic location and partnerships to consolidate its presence in the energy sector, with ambitious gas distribution projects and upcoming investment opportunities in the oil sector.
The country aims to attract foreign capital to accelerate the development of the sector and showcase the potential of its highly promising areas. With interest from Chinese companies such as CNOOC and collaboration with the Tanzania Petroleum Development Corporation, Tanzania is preparing for a bright future in the oil and gas industry.
Conclusions:
Tanzania’s energy industry represents a significant economic opportunity, with ambitious projects such as Tanzania LNG aiming to position the country as a major global player. Geopolitically, Tanzania is consolidating its regional role in the oil and gas sector, attracting foreign investment and building key partnerships. Politically, the country is preparing to launch new licenses that could lead to greater economic activity in the energy sector.
