Have you ever really know the oil and gas market is not static? Do you believe Tanzania oil and gas industry and other East African countries can dramatically change the global energy equation
You are about to learn some really great stuff,
The article explores two fundamental factors that will result East African oil and gas industry including Tanzania to dramatically the change global oil and gas market
Let’s face them
1: New discoveries
For a couple of years now, latest announcements of natural gas and oil discoveries in Tanzania, Kenya Uganda and Mozambique are being made every few months, oil and natural gas exploration is ongoing, so even more natural gas could be developed.
This natural gas discoveries means that these East African countries that have not been exporter, they certainly would be just an exporter of natural gas in the global market and this will result into change the global energy equation.
Changing of oil and gas market is the consequences of new technology,
What does modern technology mean to oil and natural gas industry?
It means that uncommon sources of oil and natural gas that recently are not commercially viable. They will come online.
Allow me to make one example of contemporary innovative technology that has dramatically changed the global oil and gas market.
The most recent technology that has changed the global oil and gas market is called” HAUDRALIC FRACTURING or FRACKING”
What is Haudralic Fracturing? A quick definition
Hydraulic fracturing or Fracking is the process which blast through shale deep below the surface to release oil and gas trapped in the rock
This technology has switched the global oil and gas market.
For instance this technology has made United stated a net exporter of oil and natural gas and in few years the country has decrease oil import from 56 percent in 2005 to 40 percent in 2012
Bonus: In 2011 United states begin to export petroleum products for the first time over 60 years thanks to HAUDRALICK FRACTURING technology
Due to the reasons I mention above, you should understand that oil and gas markets will never remain the same for the next years.
East African countries like Tanzania, Mozambique Kenya and Uganda have to come online and become oil and natural gas exporter due to the new oil and gas discovered day after day this will result to the change of energy equation across the world
New technology also can cause oil and gas market to change because those oil and gas sources that was that was very difficult to access could be easily accessible