It is also expected that during the summit the government will outline strategies put in place to boost its industrialization agenda powered by oil and gas as well as highlight investment opportunities and pushing existing projects.
Abdulsamad Abdulrahim, Chief Executive Officer for Ocean Business Partners, said the conference will explore the strategic importance of Tanzania as an energy hub in East Africa and the potential for major developments in the energy sector.
Briefing journalists on the congress, he said the conference will be informed on strategies to achieve industrialization goals, and how to strike successful partnership with international companies in the oil and gas sector.
“The congress will also showcase opportunities for investment and focus on the creation of partnerships between local and international companies by bringing together the major stakeholders,” he stated.
Other key issues to be discussed during the summit include the latest industry updates, best practices in the oil and gas sector as well as short term supply and demand in the local market, he elaborated.
Tanzania’s natural gas reserves currently stand at about 57.25 trillon cubic feet following new deep sea discoveries off the country’s southern coast. Tanzania is also finalising plans to set up a liquefied natural gas processing plant in Lindi.
The congress which is held annually is taken as the official platform for promoting collaboration between government and industry.
In September last year the Tanzania Private Sector Foundation (TPSF) appealed to the government to make a final decision on indicative prices for natural gas saying delays in doing so are derailing efforts to use gas as a domestic source of energy despite its plentiful availability, hence becoming a setback to the industrialization drive.