Tanzania to sign HGA for $30bn LPG project in Dec
Tanzania is expected to sign a host government agreement (HGA) for the $30bn Liquefied Natural Gas (LNG) project with investors in December, this year as planned, the Minister for Energy, January Makamba has said.
HGA, according to Thomson Reuters, is an agreement between a foreign investor and a local or host government governing the rights and obligations of the foreign investor and the host government with respect to the development, construction, and operation of a project by the foreign investor.
“We have launched the first-ever independent macroeconomic study on the Tanzania Liquefied Natural Gas (LNG) project". 1/2 pic.twitter.com/TY6du6bCfU
— Stanbic Tanzania (@StanbicBankTZ) October 26, 2022
Mr Makamba revealed this on Wednesday at a launching ceremony of the macroeconomic report of the LNG in Dar es Salaam and added that negotiations with investors are going on well.
The report has been prepared by Stanbic Bank.
“We’re getting there. We have tremendous confidence we will sign in December,” said the Minister at the launch of the report which shows the LNG project will have enormous financial and economic benefits to the nation.
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