Aminex expects first gas from Tanzania project in mid-2015

Gas explorer and developer Aminex said it expected “first gas” from the Kiliwani North field in Tanzania in the middle of this year.

The company said it had completed a gas sales agreement for Kiliwani North, although it was yet to finalise payment protection clauses and guarantees.

Aminex said it was in negotiations with a “substantial financial group” which is willing to provide a loan that will enable the group to pay down existing debt and continue the development of its Tanzanian assets.

Meanwhile, the London-listed group added it had extended a $7.6m loan facility by six months until 31 January 2016.

Aminex shares were up 4.05% to 2.18p at 09:57 on Thursday.