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Equinor says Middle East conflict increases attractiveness of Tanzania LNG project

evening · · thread: US and Iran Pause Military Strikes Amid Continued Drone Attacks on Saudi Oil Sites

2 sources across 2 countries · South Africa · United Kingdom

Who reported this

  • Business Day South Africa · Centre-right · Arena Holdings (Lebashe Investment Group)
  • Reuters United Kingdom · Centre · Thomson Reuters Corporation

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Equinor stated on Tuesday that disruptions to energy flows in the Strait of Hormuz are making a long stalled liquefied natural gas export plant in Tanzania more attractive. Philippe Mathieu, Equinor's head of international operations, told reporters at a conference in Norway that producing LNG in an area not exposed to such geopolitical challenges is now more appealing. The project involves a massive gas deposit discovered over a decade ago with an estimated development cost of 42 billion dollars. The plant would serve as an alternative supply source for Asian customers. Equinor and Shell are joint operators of the project, which includes partners ExxonMobil, Pavilion Energy, Medco Energi, and Tanzania's national oil company TPDC. Additionally, Mathieu mentioned that Equinor hopes to make a significant oil discovery in Namibia's PEL 90 exploration licence following a recent purchase of a 17.4 percent stake in the prospect.

How each side framed it

Centre
The center source focused on the increased attractiveness of the project due to the war in Iran.
Centre-right
The center-right source framed the event as a revival of a stalled project caused by the loss of reliability among Gulf producers.

Sources

100% of the statements in this article were traced back to the source articles listed above.