According to Reuters, Equinor is prepared to commence negotiations with Tanzania regarding the development of an LNG project.
Reuters reports that the project is based on a deepwater offshore discover.
John Magufuli, the President of Tanzania, has reportedly asked his government to go ahead with talks in order to set out the commercial and fiscal framework for the project. However, he added that it was still too early to make a judgement on how long the talks could take, and how much the project would cost.
Read the article online at: https://www.lngindustry.com/liquefaction/04122018/equinor-ready-to-starts-talks-regarding-tanzanian-lng-project/
Gavin Thompson, Asia Pacific Vice Chair, Wood Mackenzie, comments on the future of LNG supply in APAC, stating that projects must move fast to take advantage of strong LNG prices and contracting fever.