African Development Bank approves loan to develop natural gas in Tanzania

5461836185 bd78b5c075 zTanzania has a bright natural gas future. (Image Credit: Stefano C. Manservisi/Flickr) A loan of US$29.8mn has been approved by the African Development Bank (AfDB) to help Tanzania develop its natural gas resources via domestic markets and local content initiatives

This approval followed a workshop last month in Dar Es Salaam, which was organised by the Tanzanian government through the National Economic Empowerment (NEEC) and the African Natural Resources Centre of the AfDB on the theme of "Unlocking the potential of gas resources in Tanzania, leveraging domestic markets and local content requirements".

The project aims to help Tanzania develop the natural gas sector with a solid regulatory framework to manage gas reserves, attract investment and support government negotiation teams to make mutually beneficial deals and develop sound local content policy for creating jobs. With a focus on natural gas for Tanzania's domestic market, the project is strongly focused on improving access to energy at a national and regional level.

"The AfDB is stepping up its support to the government of the United Republic of Tanzania to develop the gas sector that is potentially transformative for the country," said Chidozie Emenuga, AfDB's country manager for Tanzania.

Tanzania's gas reserves, estimated at 57 tcf, are concentrated in offshore blocks. The country has been exploring for gas for more than 50 years and the first discoveries were made in 1974 on Songo Songo Island.  

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