29 July 2013, London – The BG Group Plc has raised its estimate for total gross recoverable resources of natural gas from its Tanzania discoveries to around 13 trillion cubic feet.
The company said in a statement, weekend that the increase of the estimate from 10 trillion cubic feet underscores the region’s importance as one of the energy industry’s hottest new areas.
Neighbouring Mozambique with its discoveries of giant offshore natural gas fields aims to export its first cargoes of liquefied natural gas by 2018.
Analysts say the region is well placed to serve growing energy demand in Asian markets. The mounting volume of gas discoveries off the coast of East Africa has already stimulated a wave of multi-billion dollar acquisitions in projects in Mozambique. BG Group said it had its eighth consecutive gas discovery offshore Tanzania in July, with the Ngisi-1 exploration well located in Block 4.
The Ngisi well is the first to penetrate a reservoir section adjacent to the previously announced Pweza and Chewa discoveries in Block 4, opening up a new play in the tertiary formation of the northern block. BG Group is in the process of selecting a site for an onshore liquefied natural gas plant and said that process was progressing well.
The capacity of the terminal will be determined by further exploration and appraisal results across the company’s three offshore blocks.
– Tanzania Daily News
