Planners trained on gas economy

The Attorney General Chambers (AGC) has in collaboration with the Ministry of Energy and Minerals (MEM) organised a week long training in contracts negotiations.

Tanzania’s private sector can participate and benefit from the upcoming gas economy by supplying quality goods and services to various multinational companies in exploration blocks, the World Bank has advised.

Recent discoveries of natural gas off the coast of Tanzania have led to a projection that Tanzania could become a major producer of natural gas in a decade. This fact now sees various local, national and multinational companies committing billions of dollars foe exploration in this lucrative resource.

 In anticipation of an imminent discovery of commercially viable natural gas, Tanzania Trade Development Authority (Tantrade) is organizing a seminar that will enable locals to exploit opportunities availed by the sector.

Tanzania’s natural gas discoveries are not an automatic end to the country’s economic woes, an economist has warned.

There is no guarantee that the gas economy would lessen Tanzania’s debt burden because it is not the only solution to the country’s economic woes, according to experts.

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>Tanzania maintained its place as one of 20 fastest growing economies in the world with its average growth rate of 6.9 per cent between 2005 and last calendar year, it has been reported.