The Tanzanian Ministry of Energy and Minerals (MEM) has announced this month that the Local Content Policy (LCP), developed to ensure that energy resources will be explored in a diversified and sustainable manner to enhance energy sector and create employment, is in its final stage and about to be completed.
The announcement was made by Ms. Neema Jugangira Aspon, MEM’s Responsible for Local Content during the “Seminar on the awareness and opportunities available in the Oil & Gas Supply Chain for Small and Medium Enterprises (SMEs) in Tanzania”, organized by the Tanzania Private Sector Foundation (TPSF) and Tanzania Investment Centre (TIC) in the Country’s commercial capital Dar es Salaam.
The last revision of the LCP in Oil and Gas was passed by the MEM’s current cabinet two months ago and is in the final stages to be completed, explained Ms. Lugangira during her speech.
The new LCP will be the result of combining four assed policies into one that includes the LCP and the current National Energy Policy (NEP).
According to the MEM’s website, Tanzania’s Energy Sector currently counts with 8 different regulatory documents between policies and acts: NEP 2015, LCP 2015, Petroleum Policy 2014, Petroleum Act 2008, Electricity Act 2008, Petroleum Policy 2014, Environmental Impact Assessment (EIA) 2012, and the Natural Gas Policy 2013.
The new LCP’s main objective is to help the SMEs in the country with more affordable information to promote the sector’s development.