Oslo — Norway’s Equinor is ready to start talks with Tanzania on developing a liquefied natural gas (LNG) project based on a deepwater offshore discovery, the company says. Tanzanian President John Magufuli has asked his government to proceed with negotiations to set out the commercial and fiscal framework for the LNG project, Equinor, a majority state-owned energy company formerly known as Statoil, said. “Equinor will now proceed with our partner ExxonMobil with negotiations for a host government agreement,” an Equinor spokesman said. It was too early to say how long talks with the government could take and how much the project would cost, he said. Tanzania said in 2014 that a planned LNG export plant could cost up to $30bn. Royal Dutch Shell, which operates deepwater blocks 1 and 4, adjacent to Equinor’s block 2, previously sought to develop the LNG project in partnership with Equinor and Exxon Mobil. “Shell continues to work with the government of Tanzania to establish the most c...

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