Since its Independence, Tanzania has never come close to signing a record-breaking contract as it signed with Shell and Equinor on LNG extraction in Lindi, one of Tanzania’s southern regions. The project will cost 70 trillion, the biggest since Independence. What does this project mean to Tanzania’s economy and development in individual lives?
Tanzania will receive more than half of the total project income through the share of the production allocated to the government and the tax paid by the investor.
- The LNG plant in Lindi will provide domestic gas for power generation and industrial development, multiple opportunities for local businesses, and an influx of jobs and new infrastructures such as roads, ports and railways.
- During the construction of the LNG plant, more than 10,000 will be created and 6000 permanent jobs after the completion of the project.
- 10% of the total investment, equivalent to Tsh 10 Trillion, will be spent in Tanzania through direct services such as food, transportation, security, accommodation, oil, communication, insurance, etc.
With an estimated 57.7 trillion cubic feet of natural gas reserves, Tanzania presents enormous opportunities for investors in the oil and natural gas sectors and for the people to benefit from the resources.
How will Tanzania’s LNG $30b gas scheme propel people’s economic development?
Since its Independence, Tanzania has never come close to signing a record-breaking contract as it signed with Shell and Equinor on LNG extraction in Lindi, one of Tanzania’s southern regions. The project will cost 70 trillion, the biggest since Independence. What does this project mean to Tanzania’s economy and development in improving individual lives?
Tanzania will receive more than half of the total project income through the share of the production allocated to the government and the tax paid by the investor.
- The LNG plant in Lindi will provide domestic gas for power generation and industrial development, multiple opportunities for local businesses, and an influx of jobs and new infrastructures such as roads, ports and railways.
- During the construction of the LNG plant, more than 10,000 will be created and 6000 permanent jobs after the completion of the project.
- 10% of the total investment, equivalent to Tsh 10 Trillion, will be spent in Tanzania through direct services such as food, transportation, security, accommodation, oil, communication, insurance, etc.
With an estimated 57.7 trillion cubic feet of natural gas reserves, Tanzania presents enormous opportunities for investors in the oil and natural gas sectors and for the people to benefit from the resources.