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Algeria in oil and gas exploration talks with Tanzania

08 Jul 2014
Algeria and Tanzania are in advanced talks for three energy projects including a first deal to start oil and gas exploration in Tanzania, boosting ambitions to expand into east Africa.

The gas exporter brings experience in oil and gas exploration and hopes to cement Tanzania’s position as part of a growing number of emerging producers in east Africa.

The potential deals follow last year’s negotiations between Algeria’s state energy group Sonatrach and Mozambique, to buy a stake in offshore gas projects operated by Eni and Anadarko Petroleum Corp. 

Algeria has the 10th largest natural gas deposits in the world, as well as being the third largest gas supplier to Europe. Despite this, a drop in foreign investments has meant that exports have been in decline.