February 5, 2022 [Oil&Gas] – ENOC Group and Tanzania’s Ministry of Energy signed today a Memorandum of Understanding (MoU) to develop a national import gateway and world-class storage facility for oil and gas products to serve the country as well as the Eastern and Central Africa region, ENOC announced in a press release.
The partnership is in line with the UAE’s 2023 key priorities to expand economic partnerships in Africa and supports the Dubai Economic Agenda of doubling the size of the Emirate’s economy over the next decade, ENOC said in a press release.
Through this agreement, both parties will enter into preliminary discussions to better understand the requirements of the project and develop the framework for the implementation of the gateway and storage facility.
The technical scope of the project will include the development of a new storage facility for oil and gas products, plus related import infrastructure.
The development of a modern import terminal and storage facility will help to build strategic reserves, to improve efficiency and lower import prices in addition to providing job opportunities, which is expected to benefit Tanzania’s economy.
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