More delays for Tanzanian LNG

While Mozambique makes progress on LNG — at least of the floating variety — Tanzania’s gas ambitions received a blow in early July when the government decided to force all existing upstream investors to renegotiate the terms of their contracts and concessions. The Natural Wealth and Resources and the Natural Wealth and Resources Contracts bills were passed by the Tanzanian Bunge, or parliament, affecting all parts of the oil, gas and mining sectors. In contrast with his low key predecessors, Tanzania’s current president, John Magufuli, has earned himself the nickname “The Bulldozer” for attempting to push through reforms by sheer weight of personality. Magufuli was elected in late 2015 on a platform of tackling corruption: 10,000 civil servants were fired following his election, and he has made repeated claims that foreign investors are guilty of tax evasion. The government has already clashed with gold producer Acacia Mining, after it alleged that the company was exporting far more gold than it was declaring, and the Tanzania Chamber of Minerals and Energy has complained about the short notice and lack of consultation regarding the recent legislation. Tanzania sits on 57 Tcf of largely undeveloped natural gas reserves, according to official data. A

Continue reading More delays for Tanzanian LNG. This article appeared first on CTRM Center.

Source: CTRM Center

Related Posts

Leave a reply