Tanzania May See Five Fold Rise in Gas Reserves
Tanzania may see a five fold rise in its gas reserves in next two years if new finds prove productive, Reuters reported citing a energy and minerals ministry statement.
"It is expected that Tanzania's natural gas resources will rise to 200 trillion cubic feet after the next two years," Reuters quoted from the statement.
According to estimates, Tanzania may hold 43.1 tcf of recoverable natural gas reserves, most of it found offshore south of the country.
Lot of international energy firms have shown interest in exploring Tanzania’s gas resources. Latest to apply for exploration license is China’s CNOOC. If the Chinese firms get the license it will be the 17th foreign company to enter the country’s gas exploration space.