12 °c
London
Tuesday, July 5, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Mozambique expects area 4 LNG FID by June

Staff by Staff
February 7, 2020
in Africa, Economy, Energy, FID, Fuel, Gas, Infrastructure, Investing, Mining, Mozambique, Natural Resources, Oil
Reading Time: 2 mins read
1.1k 81
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The president of Mozambique’s National Petroleum Institute (INP) on Thursday said that he is waiting until June for the final investment decision of the consortium for area 4 gas exploration in the north of the country.

Carlos Zacarias said on Thursday that the decision should be taken as soon as possible, by the end of this semester.

The ‘final investment decision’ (FID) which marks the beginning of the countdown for production to begin – is at this time dependent on the formalisation of the commitment, already agreed between all partners.

The decision involves the exploitation of the Mamba deposit in the Rovuma Basin, an investment that may amount to $25 billion (€22.7 billion) with production expected to start in 2025.

The same consortium will also operate a smaller deposit called Coral Sul with a platform ship that will be permanently anchored on the high seas above the deposit.

Construction of the vessel is more than 60% complete and towing to the Mozambique Channel is scheduled for the end of 2021, to start extracting and producing liquefied natural gas in 2022.

Area 4 is operated by MRV, a joint venture owned by ExxonMobil, Eni and the National Petroleum Corporation of China (CNPC), which holds 70% interest in the concession contract for exploration and production in that area.

Galp, KOGAS and the Empresa Nacional de Hidrocarbonetos de Moçambique each have a 10% equity interest.

Another consortium led by Total is responsible for exploration in Area 1 and took over the FID in 2019, with production expected to start in 2024 and investment also around $25 billion.

Gas extraction from the Rovuma projects will operate off the coast of the northern province of Cabo Delgado through underwater pipelines, with liquefaction taking place onshore in a factory under construction in the new gas city, which is being built in Palma, on the Afungi peninsula, where the oil companies will share infrastructure.

Source: Lusa via Club of Mozambique

Related

Tags: AfungiCabo DelgadoCarlos ZacariaschinaCNPCCoral SulEmpresa Nacional de Hidrocarbonetos de MoçambiqueENHENIExxonMobilFeatureFIDfinal investment decisionGalpINPKogasliquefied natural gasLNGMambaMozambiqueMozambique ChannelMRVNational Petroleum Corporation of ChinaNational Petroleum InstituteOil and gasPalmarovumaRovuma BasinTotalмозамбикموزمبيقモザンビーク莫桑比克
ScanSendShare460Tweet288Share81Pin104Send
Staff

Staff

Related Posts

African Fintech: Growth, Profit and Forecasts
Fintech

Qenta launches fintech platform for emerging markets

by Africa Global Funds
July 5, 2022
Finance

Facility to help ease Africa debt crises launched in France

by FurtherAfrica
July 5, 2022
Angola to invest US$1B in new solar power parks
Energy

US commits US$2B for solar deployment in Angola

by Energy Capital & Power
July 5, 2022
Mining

Angola Catoca diamonds reports revenue increase

by FurtherAfrica
July 5, 2022
Development

Ethiopia launches US$30M nutrition program

by FurtherAfrica
July 5, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

African Fintech: Growth, Profit and Forecasts
Fintech

Qenta launches fintech platform for emerging markets

by Africa Global Funds
July 5, 2022
0

Qenta, a financial services and infrastructure platform with cutting-edge technology and a proprietary enterprise-grade blockchain, the Qenta Operating System, has...

Read more

Facility to help ease Africa debt crises launched in France

July 5, 2022
Angola to invest US$1B in new solar power parks

US commits US$2B for solar deployment in Angola

July 5, 2022

Angola Catoca diamonds reports revenue increase

July 5, 2022

Ethiopia launches US$30M nutrition program

July 5, 2022

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 99,577 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...