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Vol 54 No 23

Published 15th November 2013


Tanzania

Rocky road to gas economy

Political rows and bad laws are undermining the prospects for the billion dollar gas industry

His excitement was not misplaced: ‘We are now full throttle ahead to the gas economy,’ said Energy and Minerals Minister Sospeter Muhongo. He was speaking at the launch of the Fourth Offshore and Lake Tanganyika Licensing Round on 25 October. The International Monetary Fund’s estimates of potential state revenue from known reserves alone start at US$2.5 billion, roughly equivalent to all current aid receipts. The government’s figure for reserves is over 40 trillion cubic feet. If proven, projected revenue could be multiplied.

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