In-Briefs

Another Big Gas Find for Tanzania

June 15, 2012
| Energy
| Africa

Norwegian oil firm Statoil and Exxon Mobil have found additional large natural gas finds off the coast of Tanzania bringing the size of the gas reserves to 9 trillion cubic feet . . . the find appears to confirm estimates by the U.S. Geological Survey of 253 trillion cubic feet of offshore gas near Tanzania, Mozambique, and Kenya . . . the reserves are estimated to require $10 billion to develop . . . Tanzania hopes production could begin by 2019 . . . the gas finds are more good news for relatively energy-poor Kenya and Tanzania . . . the gas discoveries also raise the prospects that Kenya, Tanzania, and Mozambique will be able to earn substantial revenues by selling liquefied natural gas to India, China, and Japan.

 
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