Shell, Equinor in breakthrough

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StickyRice
2023-03-21

Shell, Equinor in breakthrough to unlock $30B Tanzania LNG project

Tanzania's energy ministry said it has made a major breakthrough with Shell $SHELL PLC SPON ADS EACH REPR 2 ORD SHS(SHEL)$ and Equinor $Equinor ASA(EQNR)$ on negotiations for the construction of a $30B liquefied natural gas terminal.

Minister of Energy January Makamba said talks with Shell (SHEL), Equinor (EQNR) and their partners, which include Exxon Mobil (NYSE:XOM), have been completed on the contractual terms of a critical host government agreement that will underpin the project.

The massive project aims to pipe 40T cf of gas held in deepwater blocks 1, 2 and 4 to a 10M metric tons/year LNG plant in Tanzania's Lindi region.

Shell (SHEL) operates Tanzania's Block 1 and Block 4, which hold 16T cf in estimated recoverable gas, while Equinor (EQNR) operates Block 2, in which Exxon (XOM) holds a stake and which is estimated to hold more than 20T cf of gas.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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BlueDaisy
·2023-03-21
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PangWeeJing
·2023-03-21
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企鹅大人
·2023-03-21
[smile]
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WmochaW
·2023-03-21
Thansk
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HCLim
·2023-03-21
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appz
·2023-03-21
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Minnieee
·2023-03-21
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gupzbajaj
·2023-03-21
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Siak
·2023-03-21
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Angcle
·2023-03-21
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AetherC
·2023-03-21
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huathuat168
·2023-03-21
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Holomatt
·2023-03-21
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Alan75
·2023-03-21
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Miaoj
·2023-03-21
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appz
·2023-03-21
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Wong Ying Ying
·2023-03-21
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Desna10
·2023-03-21
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