Rughani made the call yesterday in Dar es Salaam when speaking at the meeting organiSed to discuss available opportunities in the liquefied natural gas (LNG) projects for Tanzania’s economic development. The forum was organized by the CEO Roundtable of Tanzania.
Rughani said the natural gas industry is becoming the most lucrative market in Tanzania as most of investors have shown interest to invest in the sector.
is high time now for Tanzanians to get prepared and explore the opportunities available in the sector,” he said adding that the local should also go for investment but not to wait the foreigners only.
Rughani who is also the chief executive officer (CEO) for Standard Chartered Bank said there are lot of opportunities in the natural gas that needs to be explored to support the government’s move of making Tanzania one of the middle-income nations by 2025.
For her part, Senior Vice President and country manager for Equinor Tanzania Dr Mette Ottoy said that the country’s natural gas reserves stand at 57 trillion cubic feet.
The development of LNG project in Tanzania would equate to over 30 years of operational activity and translate into significant socio-economic development for Tanzania including increased gas production for domestic utilization to meet Tanzania’s growing energy demand.
creation which will translate to skills development, capacity building and technology transfer, boosting revenue collections with 60 percent of value creation from the LNG project remaining in Tanzania,” she explained.
The CEO round table is a policy dialogue forum bringing together CEOs of leading companies in Tanzania to foster close cooperation between the public and private sector in Tanzania with the view of accelerating expansion and growth of the Tanzanian economy in a sustainable manner.