Monday 24 June 2024

Enoc signs MoU with Tanzania to develop storage facility

TANZANIA, February 1, 2023

Enoc Group, a leading integrated global energy player, and Tanzania’s Ministry of Energy (MoE) signed a Memorandum of Understanding (MoU) to develop a national import gateway storage facility for oil and gas products to serve the country as well as the Eastern and Central Africa region.
The partnership is in line with the UAE's 2023 key priorities to expand economic partnerships in Africa and supports the Dubai Economic Agenda of doubling the size of the Emirate’s economy over the next decade.
The agreement was signed by Saif Humaid Al Falasi, Group CEO at Enoc, in the presence of January Yusuf Makamba, Energy Minister of Tanzania.
Through this agreement, both parties will enter into preliminary discussions to better understand the requirements of the project and develop the framework for the implementation of the gateway and storage facility.
The technical scope of the project will include the development of a new storage facility for oil and gas products, plus related import infrastructure.
Al Falasi, Group CEO at Enoc, said: “As a national champion with a global presence, we are committed to supporting the UAE in its continued efforts to expand economic partnerships across the globe. Through this partnership, we will support the Republic of Tanzania to cater to the growing fuelling needs in the country and the wider Eastern and Central Africa region whilst addressing rising fuel costs.”
The development of a modern import terminal and storage facility will help to build strategic reserves, to improve efficiency and lower import prices in addition to providing job opportunities, which is expected to benefit Tanzania’s economy. –TradeArabia News Service


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