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One Of The Brightest Prospects In LNG

 

Introduction

When Royal Dutch Shell (NYSE: RDS.A) proposed the acquisition of BG Group (LON: BG), it was staking its future on the growth of liquefied natural gas (LNG).

Much of the attention focused on BG Group’s Australian assets. In Australia’s northeast, BG is behind the Queensland Curtis LNG project, a large export facility that could earn BG (and if the deal goes through, the combined Shell-BG company) a large return for years to come.

While Australia has positioned itself to become one of the largest exporters of LNG, it is not the only player in the market.

East Africa also has large deposits of natural gas and is geographically positioned to capitalize on exports. And it is here where BG also has a strong presence, and its assets in Kenya and Tanzania certainly did not go unnoticed by Shell executives.

East Africa Natural Gas Discoveries

Tanzania is pushing hard to develop their oil and gas resources. It is still in the early phases, as infrastructure and actual investment dollars committed need to catch up to the excitement. But there is a lot to like about the region, particularly offshore.

BG got a foothold in Tanzania in 2010, and it is sitting on several blocks offshore that have a lot of potential. It farmed into blocks 1, 3, and 4 (see map), taking a 60 percent ownership stake in them. The original holder was Ophir Energy (LON: OPHR), a small company that actually holds the largest net…

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