Tanzania's Natural Gas Reserves Almost Triple on New Finds

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"Oil majors have discovered more gas off Tanzania, about 28 miles north of the maritime border with Mozambique, where explorers have made the largest gas discoveries of the decade."

Bloomberg, David Malingha Doya

Tanzania's total estimated natural gas reserves almost tripled to as much as 28.7 trillion cubic feet with recent offshore discoveries including one by Statoil ASA (STL), Energy Minister Sospeter Muhongo said.

The energy ministry plans to submit a draft natural gas policy and propose legislative amendments in September, the minister said in an e-mailed statement yesterday. The ministry estimated total reserves at 10 trillion cubic feet in September.

"It is important to ensure that this pace of oil and gas exploration continues," Muhongo said.

Tanzania and Mozambique have discovered about 100 trillion cubic feet of gas, almost enough to meet global demand for a year, as the world's biggest explorers have poured into East Africa to search for hydrocarbons and finds have increased in Kenya and Uganda.

Recent finds off Tanzania's Indian Ocean coast brought recoverable offshore reserves to 21 trillion cubic feet, while onshore fields were estimated at 4.27 trillion cubic feet to 7.77 trillion cubic feet, the ministry said in the statement. . .View Full Article

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