Latest news with #Biteko
Bloomberg
30-04-2025
- Business
- Bloomberg
Tanzania Says $42 Billion LNG Deal Delayed On Local Content Use
Tanzania's Deputy Prime Minister Doto Biteko said the government wants to agree the terms of a long-delayed $42 billion liquefied natural gas facility with international oil companies by October. Negotiators for a consortium comprising Shell Plc, Equinor ASA and Exxon Mobil Corp. and the government were haggling over 'a few outstanding issues' such as the authority's demand that at least 3% of the gas from the LNG project be reserved for domestic utilization, Biteko told lawmakers late on Tuesday.
Reuters
11-02-2025
- Business
- Reuters
Tanzania hopes to conclude talks for LNG project by June
NEW DELHI, Feb 11 (Reuters) - Tanzania is discussing tax incentives with investors in a stalled project to construct a $42 billion liquefied natural gas plant in the country, Energy Minister Doto Biteko said on Tuesday, adding the talks could be completed by June. The development has been stalled by proposed government changes to a financial agreement reached in 2023. "The project hasn't stopped, we are negotiating on the terms of how we can make the project viable for both of us," Biteko told Reuters at the India Energy Week conference. He added that some government incentives would have to be given, and that the production volume depends on negotiations. "Can't say when until we complete the negotiations, but I think the negotiations will be complete within this financial year, between now and June," Biteko said. The project would unlock 47.13 trillion cubic feet of natural gas deposits in the country. Tanzania also plans to launch an exploration licensing round for 26 oil and gas blocks on March 5, Biteko said. Together with France's TotalEnergies ( opens new tab and China's CNOOC , Uganda and Tanzania are also developing a 1,445-kilometre-long pipeline to transport Ugandan crude oil to Tanzania's Indian Ocean coast. Biteko said construction is progressing well, with the pipeline 47% complete. "Likely in 36 months we will realize the completion," he added.
