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| Offshore gas field |
British gas and oil firm BG Group plans to step up its presence in gas
exploration in east Africa's second-biggest economy by investing US$500 million
in Tanzania this year, the government said on Tuesday.
The east African coastline is fast becoming a major gas hub with even
bigger discoveries made farther south in Mozambique, and demand appears to be
growing, considering how close India is with its rapidly expanding economy.
The BG Group has previously said it expects to see growth from
Tanzania, where it has made three gas discoveries off the coast of the country
and hopes to develop a floating liquid natural gas plant.
The BG Group this month said appraisal work showed its new discoveries
offshore Tanzania contained 3 trillion cubic feet of resources.
Norwegian oil and gas firm Statoil announced on Friday it has found
natural gas offshore Tanzania, marking the latest in a series of discoveries on
the doorstep of Asia's fast growing markets.
Tanzania's natural gas reserves are estimated to have risen to more
than 10 trillion cubic feet (tcf) from a previous estimate of 7.5 tcf following
major gas discoveries in the country's deep-water offshore region.
Mozambique, the fastest growing energy player in the region, this month
estimated that energy firms will spend $50 billion over the next decade to
develop its liquefied natural gas (LNG) industry.
Source": Reuters,af.reuters.com
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