8 April 2021 5:53 GMT Updated 8 April 2021 5:53 GMT in London
Tanzania s President Samia Suluhu Hassan is set to revive the long-stalled $30 billion liquefied natural gas development in Lindi, where energy giants Shell and Equinor are stakeholders.
Under the administration of former president John Magufuli, who died last month, the project was sidelined, with the presidency instead prioritising the East Africa Crude Oil Pipeline to take oil from Uganda to the Tanzanian port of Tanga.
“We have been singing the LNG song for a very long time, Hassan said. I remember when I was sworn in as the vice president (in 2015), I tried to work on it, but discovered it was beyond me and stopped.”
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Banks opt out of oil pipeline funding
Thursday April 01 2021
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The $3.5b East Africa Crude Oil Pipeline (EACOP) project could run into trouble after some international commercial banks withdrew from funding the construction of the world’s longest heated crude oil pipeline proposed by French Oil Company Total and the China National Offshore Oil Corporation (CNOOC).
“The banks provided statements making it clear they will not support the East Africa Crude Oil Pipeline [EACOP]after an open letter endorsed by 263 organisations from around the world was sent to 25 banks considered most likely to be approached for financing,” a March 18 press release from Inclusive Development International, read in part.