World Economy

Tanzania Heads for Gas Economy 

Tanzania Heads for  Gas Economy Tanzania Heads for  Gas Economy 

The governor of the Bank of Tanzania (BoT), Prof Benno Ndulu, said the country’s current proven gas reserves stood at 55 trillion cubic feet (tcf), while construction of a liquefied natural gas (LNG) plant was scheduled to be undertaken between 2017 and 2022, NewsNow reported. “Based on current estimates and under favorable global prices, gas production might add to government coffers about $3-4 billion,” the governor said. He explained that the economy is projected to start accelerating at the rate of 15.3% annually within the next 12 years, following massive off shore discovery of natural gas in the country.