* Gas-rich Tanzania plans royalty hike, signature bonus
* E.African country becoming energy hub
* To introduce new legislation by next year
By Fumbuka Ng’wanakilala
DODOMA, Tanzania, July 27 (Reuters) – Tanzania plans to
raise royalties on gas and demand signature bonuses for energy
contracts as the east African nation tries to secure bigger
benefits from major offshore discoveries.
Tanzania recently tripled its estimated gas reserves and is
fast becoming a regional energy hub after finds by Norwegian oil
company Statoil, U.S. group ExxonMobil and
Britain’s BG Group and its partner Ophir Energy.
Energy and Minerals Minister Sospeter Muhongo said royalties
on gas production would rise from 12.5 percent to an unspecified
level and the new signing fee would be introduced under a new
gas policy, masterplan and law now being drafted.
In a presentation to parliament, he said it would take
effect in 2012/13.
Tanzania is one of the world’s poorest countries. Like its
east African neighbours, it is now positioning itself for a gas
bonanza.
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