Supporting today's comments by Aminex in their half yearly report is this snippet from Orca's quarterly report also released today:
However, the need to increase gas throughput (currently restricted to 90 MMcfd) remains urgent as there have been recent occasions when demand for gas exceeded the infrastructure capacity. Orca is working with all stakeholders to accelerate the development of Tanzanias infrastructure to relieve this situation.
The Company is an active participant in the project led by Songas Limited to maximise the capacity of the existing system to 140 MMcfd through the construction of new processing trains and the optimisation of pipeline pressures. This is forecast to be operational by the end of 2012.
Note though the difference in timing, Aminex says first half of 2012 whereas Orca say by the end of 2012.
KEY Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held