Tanzania Eyes New LNG Law, Paving Way for $42 Billion Mega Project

Tanzania is working on a new law to govern liquefied natural gas investments, which could pave the way for a $42 billion project that would tap the country's massive gas resources.

The law, expected to be completed by year-end, aims to provide a framework for the development of Tanzania's vast gas reserves.

Equinor and Shell are joint operators of the mega project, which would unlock 47.13 trillion cubic feet of natural gas deposits. Exxon Mobil, Pavilion Energy, Medco Energi, and Tanzania's national oil company TPDC are partners in the venture.

According to Salome Wycliffe Makamba, deputy minister for energy, the new law could lead to a final investment decision on the long-stalled project.