(Bloomberg) -- A Tanzanian liquefied natural gas project planned by companies including Equinor ASA and Shell Plc will add at least $7 billion a year to the nation’s GDP, according to a study by Standard Bank Group Ltd.

The East African country expects a final investment decision in 2025 on the $40 billion project, intended chiefly to export its natural gas discoveries, but delayed by years of prolonged negotiations. Its development would take place in a time of increased scrutiny over the use of fossil fuels amid global efforts to mitigate climate change. 

Standard Bank used a range of price scenarios for gas that would result in an increase of Tanzania’s gross domestic product of between $7 billion and $15 billion a year, it said in a statement. The country’s GDP is about $68 billion. 

The project could also allow Tanzania to expand domestic use of the fuel, according to the bank.

“The report underscores the importance of the government in taking a leading role in creating the appropriate commercial, fiscal and legal conditions to enable the timely development of the project,” it said. 

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