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Norway’s Equinor remains committed to Tanzania LNG project
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CAPE TOWN (Reuters) – Norway’s Equinor remains committed to a $42 billion liquefied natural gas (LNG) project in Tanzania that has stalled after proposed government changes to a
CAPE TOWN (Reuters) – Norway’s Equinor remains committed to a $42 billion liquefied natural gas (LNG) project in Tanzania that has stalled after proposed government changes to a financial agreement reached last year, a senior company executive said on Tuesday.
Negotiations have been delayed for the East African country’s mega gas project after changes to the agreement, a government spokesperson and two company sources told Reuters in May.
Our focus now is to agree on the commercial agreements for Tanzania LNG,” Equinor senior vice president Nina Koch said on the sidelines of an African oil and gas conference in Cape Town.
We are very much committed to the project and we will continue to work and have the dialogue with the partnership and government to get alignment,” she said, adding that there were no timelines for a resolution.
The Tanzanian government did not respond immediately to a request for comment.
(Reporting by Wendell Roelf; Editing by David Goodman)
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state, making it easier to store and transport. It is primarily used for heating, electricity generation, and as a fuel for vehicles.
A mega gas project refers to large-scale initiatives aimed at extracting, processing, and distributing natural gas. These projects often involve significant investment and infrastructure development.
Infrastructure financing involves funding the development of essential facilities and systems, such as transportation, energy, and utilities, which are crucial for economic growth and public welfare.
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