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No FID to be made on Tanzania LNG project for at least five years

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LNG Industry,


According to Reuters, Oystein Michelsen, Statoil’s country manager, has stated that a final investment decision (FID) will not be made on the US$30 billion onshore Tanzanian LNG export terminal for at least five years. Michelsen added that it would take another five years following FID to construct the plant.

Reuters claims that the government does want to promote the project, but that there has not been much discussion regarding the timeline. Michelsen noted that outstanding issues included a stable framework with the host government, as well as clarity with regards to local ownership requirements in some contracts.

Speaking to Reuters at an investment conference in Tanzania, Michelsen said: “We are prepared for the project to take a long time, but we could bring it forward if the government is ready."

"We are not schedule-bound... if the government delivers we would need five years until an FID."

Read the article online at: https://www.lngindustry.com/liquefaction/17112016/no-fid-to-be-made-on-tanzania-lng-project-for-at-least-five-years/

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