Reuters: Tanzania says LNG project could cost up to $30 bln

A planned liquefied natural gas (LNG) export plant to develop Tanzania's vast gas reserves could cost up to $30 billion, the energy minister said, but declined to reveal the proposed site for the liquefaction facility.

East Africa has become one of the world's hottest new oil and gas areas after a string of discoveries, which producers hope to exploit to feed energy-hungry Asia. Many top companies such as BG Group, Exxon Mobil and Statoil are at work in Tanzania to tap its gas reserves.

Tanzania and its southern neighbour, Mozambique, are locked in a race to be first to export gas from Africa's eastern seaboard after huge discoveries offshore recently that could transform their struggling economies.

"The investment in this LNG plant is between $20 billion and $30 billion," the Energy and Minerals Minister Sospeter Muhongo told a news conference on Thursday.
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