It reached around 1.2p last Nov with HH news. A GSA gives a defined value of the Tanzanian asset so without the MM's doing their best to hold the price down should be much greater than 1.2p. The big oil/gas companies will no doubt be looking at the values to.
Tanzania's current natural gas reserves are at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast, the country's energy minister said. East Africa is a new hotspot in hydrocarbon exploration after substantial deposits of crude oil were found in Uganda and major gas reserves discovered in Tanzania and Mozambique. "As a result of ongoing exploration activity, natural gas resources discovered in the country rose from 46.5 tcf in June 2014 to 55.08 tcf in April 2015, equivalent to an increase of 18 per cent," George Simbachawene, Tanzania's energy and minerals minister, said in a presentation to parliament on Saturday.
Tanzania Says Gas Reserves Rise 18% to Reach 55 Trillion Cubic Feet Tanzania's known natural gas reserves have increased by up to 18% in the last 12 months following a number of discoveries in offshore blocks, the energy and minerals ministry said Monday.
In a statement, the ministry said that the country's natural gas reserves now stand at 55.08 trillion cubic feet, up from 46.5 Tcf last June following finds in blocks off the country's southeastern coast. Nicholas Bariyo
The larger reserves are a major boost for Tanzania's fledging natural gas sector as the East African nation continues with plans to build a gas export plant targeting energy-hungry Asian markets. With more than 100 Tcf of natural gas already discovered in neighboring Mozambique, the region is poised to become the next natural gas hub on the continent, analysts say.
The energy and minerals ministry said the 532-kilometer gas pipeline, connecting the offshore oilfields to the port city of Dar Es Salaam is complete and will be commissioned in September.
The pipeline is expected to increase gas supplies to several gas-fired plants as Tanzania seeks to wean its electricity sector away from aging and unreliable hydro-power plants. A spokeswoman for the ministry said that fresh gas supplies will save the country around $1 billion a year in oil imports for electricity generation.
Companies including Norway's Statoil ASA (STO), Exxon Mobil Corp. (XOM) of the U.S., Italy's Eni SpA (E) and the U.K.'s BG Group PLC (BG.LN) have made a series of finds off the coast of Tanzania and Mozambique in recent years, making the region a hotspot for energy investors.
The U.S. Geological Survey estimates that East Africa's coastal region has potential reserves of up to 441 Tcf of natural gas.
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