IMF says Tanzania to see add investment in gas exploration over next five years

[nngu007]

By Gobby Wang
Taiwan News, Staff Writer
2012-01-21 05:07 PM​

The International Monetary Fund stated that Tanzania will see increased investment in gas exploration over the next five years, and the industry could become a major source of revenue for the East Africa nation by 2020.

"Tanzania's prospects of becoming a major producer of natural gas by the end of the decade appear good," the Washington-based lender said in an e-mailed statement late yesterday. "There could be large foreign direct investment inflows over the next five years and a substantial increase in exports and government revenue beginning around 2020."

The country has two gas deposits in commercial production. Songo Songo holds 1.5 trillion cubic feet of gas, while Mnazi Bay, near the border with Mozambique, has 2 trillion cubic feet, the state-run Tanzania Petroleum Development Corp. said in October 2010.

"Changes to some of the country's policies are planned by the government to ensure the expected increase in gas revenues will support the economy," the IMF said. "Successfully managing this future gas wealth will be critical," it said.

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[nngu007]

Hadi Taiwan wanajua Tanzania Gas yake itainufaisha Nchi.... Taiwan haina Gas inaitaka, na unajua Israel wataitaka kwasababu ni karibu

Lakini bora uongozi Usiwe wa CCM na Kikwete

 

[The Boss]

ifm ?.............

 

[Kabembe]

All that deposits under CCM is like to be a curse to our country and people expect the worse.

 

[Radhia Sweety]

It appears that as our economy opens up for foreign investors the more poorer our people become. The government has each year been bragging itself about its role in attracting international business seekers and investors but invariably fails to explain to what extent its efforts have changed lives of many. Year in, year out people have continued to be vulnarable to life pangs associated with abject penury related to poor earnings and snowballing inflation rates.