Refining the rules – the lucrative East African market for natural oil and gas
East Africa's oil and gas market has transformed over the past year following significant gas finds off the coasts of Tanzania and Mozambique, the discovery of oil in Kenya and the movement of Uganda towards development and production of its petroleum reserves. In Tanzania, it is hoped that natural gas discoveries in offshore blocks operated by BG Group and Statoil will lead to the development of a combined liquefied natural gas (LNG) plant requiring tens of billions of dollars' worth of investment.
East Africa is fast becoming a lucrative area for natural gas and oil reserves. But local governments must balance national interests and those of the oil companies if they are to develop a successful mining strategy, write Peter Kasanda, Paul Jones and Lucy Minde
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