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| Image source: megamillions |
Aminex has options to make money locally before a
larger gas field development to feed Tanzania’s national gas network.
Aminex plc (LON:AEX) has a “number options
available” as it looks at early production and monetisation from its Ntorya gas
project in Tanzania, chief executive Jay Bhattacherjee told Proactive
Investors.
On Thursday the company said it is prioritising the
preparation of a development plan for Ntorya, and it is looking to monetise gas
as quickly as possible.
The company is working with the Tanzanian
authorities as it advances plans for a suitable early production systems.
“We’ve got quite a few options available to us,” he
said.
“Ultimately we’ll be putting gas into the national
pipeline, but, there’s quite a local demand for that gas, there’s quite a few
mines around the area and there’s quite a few local businesses and there’s a
few things we can do.”
Bhattacherjee highlighted that local gas-to-power
or compressed natural gas (CNG) are possible avenues for early revenues.
He added that negotiations are already underway for
possible gas sales, or ‘off-take’ deals, but, the immediate focus is
about the project itself - and what comes after the successful Ntorya-2 well.
“We just finished the testing of the well
[Ntorya-2] and we’re quite far down the process of the updated basin model now,
which will come out with some new resources numbers and post that we’ll be
looking at what are the best options to commercialise the gas straightaway,” he
said.