It is being speculated that the government will include a clause for gas companies operating in Tanzania to be insured by local insurance firms, in the upcoming energy bill.
This should ensure a greater benefit of the up and coming gas industry in Tanzania to the local economy and avoid what happened in the mining sector, where companies were insured abroad.
Tanzania’s current estimated natural gas reserves stand at 40 million cubic feet.
However, Tanzania Minister of Energy and Minerals announced earlier this year that in the next two years they should reach 100 million cubic feet.
It is estimated that the gas industry will greatly impact Tanzania’s insurance market.
TanzaniaInvest.com will publish a free report about Tanzania Insurance Sector as soon as 2012 data are made available.