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Tanzania Starts benefiting From Its Huge Gas Deposits
Tanzania Extractive Industries Transparency Initiative (TEITI), says since the country struck natural gas fields for the first time in 1974. So far, proven reserves are estimated at 55.08 trillion cubic feet (tcf). The country currently exploits a small amount of its vast gas resources at Songosongo in Lindi Region and Mnazi Bay in Mtwara Region. The gas currently produced is used to generate electricity and its share to Gross Domestic Product (GDP), is still small, with some sources putting it at 1.8 per cent as of 2014. However, after the start of major production of natural gas in the next ten to 15 years, the gas sector is poised to over-take the mining sector’s contribution to the national economy. In its latest report, TEITI pointed out several challenges for the government that have so far been created following massive discoveries of the hydrocarbons. The challenges includes policy, legal and institutional frameworks to manage the industry more effectively. Memories are still fresh on what high community expectations caused in Mtwara, when hundreds took to the streets demanding for a fair share of the cake. The people went arounds chanting that ‘no gas should come out’ claiming that some of the government officials have colluded with international oil companies and stolen the proceeds from natural gas. The situation turned violent and the government had to use force to calm the situation. Such a scenario calls for intensive public education and transparency for the people to understand thoroughly the situation on the ground. http://www.dailynews.co.tz/index.php/business/45114-tanzania-cautiously-inches-towards-gas-economy
Tags:Tanzania cautiously inches towards gas economy, Tanzania Starts benefiting From Its Huge Gas Deposits
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