[Dar es Salaam, Tanzania] — April 13, 2026 In a pivotal transaction, Tanzanian magnate Rostam Aziz’s Taifa Gas has successfully acquired a 49% stake in the PanAfrican Energy Corporation (PAEM), thereby securing full control of the Songo Songo gas field.
The acquisition, announced on April 13, marks the culmination of a strategic move for Taifa Gas, which already stands as Tanzania’s largest liquefied petroleum gas distributor.
The remaining 51% stake has been acquired by Dubai-based Amber Energy Investment L. L. C-FZ, completing the deal and leading to the complete withdrawal of Canada’s Orca Energy Group from the Tanzanian energy market.
Orca Energy Group’s tenure at the helm of this field, spanning over two decades, has now come to a close with the company’s decision to exit the market. This decision, which came at a nominal cost of $10, was driven by factors including unresolved tax disputes, potential arbitration liabilities, and the looming uncertainty over the renewal of the Songo Songo license. With a strong local ownership stake, the deal is poised to deepen local supply chains, stimulate reinvestment in the economy, and create new opportunities for domestic firms within the gas value chain.
This move aligns with a broader trend across African energy markets where governments and local investors are increasingly seeking greater control over natural resources traditionally dominated by foreign entities. It could not only reshape the country’s energy sector but also underscore the nation’s capability to balance domestic control with investor confidence.
The future of the Songo Songo gas field, under the stewardship of Taifa Gas and Amber Energy Investment, is expected to be marked by new investments and technological advancements, potentially leading to a more stable energy supply and broader economic benefits for Tanzania.
*Additional reporting by ImNews | Sources consulted: 5*
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By This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Ayodeji Adegboyega
