Africa Cooperation DFI Energy FDI Gas Mozambique

Mozambique LNG Project to create jobs in US

The US$20B Mozambique liquified natural gas (LNG) project is set to greatly benefit United States companies as well as job creation in over nine states according to the US Export Import Bank.

According to the bank the project has seen it authorize amongst the largest transactions in EXIM’s history, a US$4.7B transaction assisting the construction of a liquified natural gas (LNG) project in Mozambique following a mandate by congress that it focus on promoting the expansion of EXIM’s financial commitments in sub-Saharan Africa.

Among the biggest beneficiary states from the project include Florida, Georgia, Louisiana, New York, Oklahoma, Pennsylvania, Tennessee, Texas, and the District of Columbia from where 68 U.S. suppliers originate from earning just under 10 percent of the project cost.

Also read: Afreximbank commits US$400M to Mozambique’s LNG

Further these sales are expected to translate to about 16,700 direct American jobs with follow-on sales expected to support thousands of additional jobs across the United States over a 5 year construction period..

Source: OilnewsKenya via CrudeMix Africa

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