Aminex plc (LSE:AEX) has confirmed the arrival of pipeline materials at the port of Mtwara in Tanzania, following the delivery of pipe imported from China for the Ntorya-to-Madimba gas pipeline. Site preparation and pipelaying activities are scheduled to commence in February 2026, marking a further step toward development of the Ntorya gas project.
The early delivery highlights the commitment of Tanzania’s state-owned Tanzania Petroleum Development Corporation and the government to progressing the pipeline, which will connect the Ntorya field to the Madimba gas processing facilities. The project is designed to supply gas into Tanzania’s domestic market and support the country’s broader energy transition objectives. Aminex is expected to benefit from a carried interest arrangement that should take the company through to first commercial gas production without direct capital expenditure.
From an outlook perspective, Aminex continues to face headwinds from weak operating performance and ongoing cash outflows, although these are partly offset by a relatively low-debt balance sheet. Share price technicals remain supportive, with the stock trading above key moving averages and a positive MACD signal, though momentum indicators suggest the shares may be overextended. Valuation remains constrained by continued losses, reflected in a negative price-to-earnings ratio and the absence of a dividend yield.
More about Aminex
Aminex plc is an oil and gas exploration and development company focused on Tanzania, where it holds a 25% non-operated interest in the Ntorya gas field. The company is targeting the expanding domestic gas market, with Ntorya production expected to contribute to energy access and the national energy transition. Its current development programme is fully carried, covering up to US$140 million in gross capital expenditure.
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