{"id":4631,"date":"2016-05-03T08:37:50","date_gmt":"2016-05-03T08:37:50","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=4631"},"modified":"2017-01-25T09:13:40","modified_gmt":"2017-01-25T09:13:40","slug":"tpdc-opens-escrow-accounts-to-manage-gas-production-future-developments","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/tpdc-opens-escrow-accounts-to-manage-gas-production-future-developments\/","title":{"rendered":"Tanzania Opens Escrow Accounts To Manage Gas Production, Future developments"},"content":{"rendered":"

The Tanzania Petroleum Development Corporation has said it has opened an ESCROW account at Stanbic Bank to deposit payments from various gas production projects as well as to facilitate transactions between the various parties.<\/p>\n

TPDC says it opened three Escrow accounts following authorization by the Central Bank of Tanzania. The accounts were also part of conditions set\u00a0 by the lender Exim bank of China with the latter proposing the account be opened at Stanbic bank should procurement rules be followed.<\/p>\n

Among the three accounts opened by the corporation include:<\/p>\n

    \n
  1. Proceedings from gas production account with the aim of depositing payments from sales of natural gas through the gas pipeline.<\/li>\n
  2. Project development account for the purpose of saving funds for future expansion of the project.<\/li>\n
  3. Debt payment account for the purpose of facilitating payments in relation to loans.<\/li>\n<\/ol>\n

    The three accounts will be governed by conditions set by an agreement between the management of the account who include Stanbic Bank (Bank), TPDC (account holder), Exim Bank of China (Lender) as well as Ministry of Finance who is the guarantor on behalf of the Tanzania government.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The Tanzania Petroleum Development Corporation has said it has opened an ESCROW account at Stanbic Bank to deposit payments from various gas production projects as well as to facilitate transactions … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":4632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[4387,4385,835,959,1590,1696,4386,2472],"class_list":["post-4631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-central-bank-of-tanzania","tag-escrow-accounts","tag-exim-bank","tag-gas-pipeline","tag-ministry-of-finance","tag-natural-gas","tag-stanbic-account","tag-tanzania-petroleum-development-corporation","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/05\/Gas-Production-KNDL.png?fit=259%2C213&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1cH","jetpack-related-posts":[{"id":5634,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tanzania-received-gas-proceeds-worth-54-9-million-in-201415\/","url_meta":{"origin":4631,"position":0},"title":"Tanzania Received Gas Proceeds Worth $54.9 million in 2014\/15","author":"","date":"January 30, 2017","format":false,"excerpt":"The latest annual report from the auditor general on the Tanzania Petroleum Development Corporation shows that the state agency received or was owed natural gas worth $54.9 million (Tsh132.6 billion) from. The amount if broken down into proceeds from gas sales by Pan Africa Energy ($31.3 million),(SongoSongo gas field) Songas\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/auditor-general-report.png?fit=571%2C614&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/auditor-general-report.png?fit=571%2C614&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/01\/auditor-general-report.png?fit=571%2C614&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":14882,"url":"https:\/\/www.oilnewskenya.com\/index.php\/uganda-tanzania-eacop-announces-the-closing-of-the-first-financing-tranche-for-the-east-african-crude-oil-pipeline-project\/","url_meta":{"origin":4631,"position":1},"title":"UGANDA\/ TANZANIA: EACOP Announces the Closing of the First Financing Tranche for the East African Crude Oil Pipeline Project","author":"","date":"April 1, 2025","format":false,"excerpt":"EACOP Ltd., the company in charge of the construction and future operation of the East African Crude Oil Pipeline project from Kabaale in Uganda to Tanga in Tanzania, is pleased to announce that it has closed thefirst tranche of external financing for the project, provided by a syndicate of financial\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/EACOP.jpg?fit=1200%2C849&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/EACOP.jpg?fit=1200%2C849&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/EACOP.jpg?fit=1200%2C849&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/EACOP.jpg?fit=1200%2C849&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/01\/EACOP.jpg?fit=1200%2C849&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6205,"url":"https:\/\/www.oilnewskenya.com\/index.php\/stanbic-sumitomo-mitsui-ibc-selected-financial-advisors-east-africa-crude-oil-pipeline\/","url_meta":{"origin":4631,"position":2},"title":"Stanbic, Sumitomo Mitsui, IBC Selected As Financial Advisors For East Africa Crude Oil Pipeline","author":"","date":"August 17, 2017","format":false,"excerpt":"Standard Bank Uganda alongside Japan\u2019s Sumitomo Mitsui Banking Corp. will be tasked with raising $3.55 billion required for the Hoima to Tanga 1,445-kilometer (898-mile) pipeline after they were contracted by Uganda, Tanzania and French Oil giant Total who is also the lead joint venture partner on the crude oil export\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/EACOP.jpg?fit=960%2C796&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/EACOP.jpg?fit=960%2C796&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/EACOP.jpg?fit=960%2C796&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/05\/EACOP.jpg?fit=960%2C796&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":8561,"url":"https:\/\/www.oilnewskenya.com\/index.php\/energy-lobby-lauds-the-bank-of-central-african-states-beacs-authorization-to-open-foreign-currency-labelled-escrow-accounts\/","url_meta":{"origin":4631,"position":3},"title":"Energy Lobby Lauds the Bank of Central African States (BEAC)\u2019s Authorization to Open Foreign Currency-labelled Escrow Accounts","author":"","date":"July 13, 2020","format":false,"excerpt":"In its Ordinary Meeting held on July 2nd, 2020, the Board of Directors of the Bank of Central African States (BEAC) has allowed the opening of foreign currency escrow accounts by petroleum and mining operators. 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This is per Mnazi Bay Gas Sales Agreement terms where the initial volumes are expected to\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/mnazi-bay-gas.jpg?fit=750%2C665&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=4631"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4631\/revisions"}],"predecessor-version":[{"id":4643,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/4631\/revisions\/4643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/4632"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=4631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=4631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=4631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}