Equinor Sees Tanzania LNG Project as Attractive Amid Iran Conflict

Tanzania's long-stalled liquefied natural gas (LNG) project has become more attractive to Norwegian energy company Equinor due to the ongoing conflict with Iran, which is disrupting energy supplies from the Gulf.

The US-Israeli conflict has raised concerns over the reliability of major LNG producers in the region, including Qatar, and increased interest in alternative sources of supply. Tanzania's LNG project, whose development cost is estimated at $42 billion, could provide an alternative source of gas for Asian markets.

Equinor's head of international operations, Philippe Mathieu, said that disruptions to LNG supplies from the Middle East have made the Tanzania project more attractive. He noted that Tanzania offers an LNG production location not exposed to the same geopolitical challenges affecting the Middle East.