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Scramble for Gas Set to Draw $10 Billion Into Tanzania Project

  • Tanzania expects to conclude LNG talks by June, president says
  • Nation weighs higher output from proposed plant, Hassan says

Tanzania expects investments in its liquefied natural gas project to rise by $10 billion as the world rushes for new sources of the fuel to reduce reliance on Russian energy.

The second phase of negotiations with a group of companies led by Equinor ASA and Shell Plc for building the long-delayed LNG terminal are expected to conclude by June, President Samia Suluhu Hassan said in an interview in her office on Monday. Hassan revived the talks for the project initially estimated at $30 billion last year after they stalled under former President John Magufuli.