UK JUNIOR AMINEX SOARS 14 MONTHS HIGH ON TANZANIA GAS PIPELINE BREAKTHROUGH
Shares of UK-listed exploration company Aminex Plc rocketed to their highest level in 14 months today following confirmation of imminent construction on a strategically crucial gas pipeline in Tanzania. The dramatic surge came after Chinese contractors were formally engaged to build a 35-kilometre, 14-inch pipeline linking the Ntorya-2 well to a new processing plant capable of handling 210 million cubic feet per day.
The pipeline development marks a pivotal breakthrough for Tanzania’s vast Ntorya gas reserves, with construction slated to begin this month. Aminex, holding minority interests in the Ntorya project alongside Ara Petroleum, saw its stock climb sharply on London’s AIM market as investor confidence surged.
The pipeline will feed into a large-scale processing facility, complementing Tanzania’s broader strategy to harness gas export potential and strengthen regional energy security. Analysts suggest the positive ground activity will significantly de-risk what has been a long-maturing project since its discovery.
Source: Upstream Online
