Dar es Salaam: Local and international oil companies will soon launch an East Africa gas forum in Dar es Salaam. According to a statement released by the potential forum members at the weekend, recent discoveries and the potential for gas monetisation, as well as the high probability of investment in infrastructure to support liquified natural gas (LNG) exports, have meant that the East Africa region is a game changer for the global gas market.
The opportunities for economic and social development in the region and for international organisations keen to invest in the region are potentially enormous, according to the statement. Gastech Specialist Events anounced that it will organise the forum in Dar es Salaam from 5 to 7 September, this year.
Among others, it will be supported by the country’s ministry for Energy and Minerals and will focus on the strategic, commercial, and geopolitical issues underlying the development of recently discovered gas resources in the region, and what would be the impact it would have on the domestic market, and the strong potential for LNG export. Among speakers would include government officials, investors, and other leading experts who will be integral to shaping the development of projects.
Meanwhile, the World Bank has urged East African countries that have made major gas discoveries to set up institutional frameworks to manage their new-found wealth effectively and use it to diversify their economies, a senior WB official said on Thursday.
The Washington-based development lender said Tanzania, East Africa’s second-biggest economy, is expected to see an increase in revenue of up to $3 billion a year following major offshore gas discoveries in the country.
The forum would dwell on such topics as the commercial potential for East African gas on the global market; focused sessions on key countries of Tanzania, Mozambique, Uganda, Rwanda, and Kenya; understanding the commitments of regional governments, considerations when doing business within the region; taxation, and overcoming challenges of market entry; and gas infrastructure - getting gas resources to the buyers, pipelines, LNG terminals, and general infrastructure.