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Tanzania Sign LNG Framework with Shell and Equinor

LNG

Tanzania signed a framework agreement with Equinor and Shell over the weekend binging closer the construction of a $30 billion LNG export terminal in the country’s Lindi region.

  • The final investment decision on the project is expected in 2025.
  • Shell and Equinor have said they are interested in the project because Tanzania is a strategic location for them to import LNG from.
  • The project is benefitting from renewed interest as Europe seeks alternative gas flows as it tries to move away from Russian dependence.
  • Equinor had previously booked a $982 million writedown on the project in 2021.
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