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Tanzania hopes for LNG plant agreement

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Reuters are reporting that Tanzania is hoping to reach an agreement with international oil companies in 2018 paving the way for the construction of an LNG plant, as part of a bigger plan for a new export terminal.

The planned new infrastructure will enable Tanzania to export some of the huge offshore gas reserves discovered in recent years in a region that has turned into an exploration hotspot.

BG Group - recently acquired by Royal Dutch Shell -, together with Statoil, Exxon Mobil and Ophir Energy, plan to build a US$30 billion onshore LNG export terminal in partnership with the state-run Tanzania Petroleum Development Corporation (TPDC).

A final investment decision has been held up by government delays.

Oil majors are expected to push for government guarantees of stable fiscal, regulatory and commercial terms before they invest.

Oystein Michelsen, Statoil's Tanzania country manager, said in November 2016 that a final investment decision on the LNG export terminal will not be made for at least five years and possibly much longer.

It would take another five years after that decision to build the plant.

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