Shell, Equinor Call for Tanzania to Act Quickly on LNG Project

Sadly, many newbie oil and gas producing (and exporting) countries make the same mistake. They mentally already spend the fortunes to come whe oil and/or gas is struck totally ignoring the one fundamental reality of O&G. Its a very longterm business. I once negotiated a deal which, after it was concluded kicked off construction for a big LNG project. I knew that when the deal was signed we were about 5 years away from first production (i.e. revenue) and the deal would run for another 20 years producing its effects. Tanzania is nowhere near the beginning of those 25 years – let alone positive cash flow.

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