The Tanzania Petroleum Development Corporation (TPDC) says the country has saved more than 7.4 billion US dollars from importing fuels to generate electricity and heat, thanks to the discovery and commercial production of natural gas.
The TPDC, Tanzania's petroleum industry regulator, said Monday that from 2004 until 2015, the government had saved about 7.408 billion US dollars, previously spent on the importation of heavy fuel oil (HFO), diesel, petrol or jet fuel.
"The discovery of natural gas has accelerated the promotion of the industrial sector in the country," TPDC Senior Research Officer Aristides Katto told a News and Editorial Symposium on Oil and Gas held in Bagamoyo, 75 kilometres north of here, over the weekend.
During the year under review, about 6.754 billion USD were spent on electricity and 653.48 million USD for industries, Katto told the symposium, which was jointly organized by the Journalists Environmental Association of Tanzania (JET) and Natural Resources Governance Institute (NRGI).
He said the country should get ready for massive industrial investments with a 2.0 billion USD fertilizer plant lined up for Lindi getting underway. "The land for the project has already been acquired and the plant will have an installed capacity to produce 2,200 and 3,850 tonnes of ammonia and urea per day respectively," he added.
According to the official, TPDC is currently in negotiation with Ferrostaal Industrial Projects that won a tender to implement the project. The project will require gas at a rate of 104 mmscfd for 20 years and employing over 5,000 people, he said.
Source: NAM NEWS NETWORK.