2019-10-07 12:35:00
EXXON'S INVESTMENT FOR MOZAMBIQUEE $33 BLN
BLOOMBERG - Mozambique's government said Exxon Mobil Corp. will sign off on investment decision for a liquefied natural gas project that could cost as much as $33 billion to build -- the biggest ever in Africa.
A ceremony marking the decision will take place Oct. 8 in Maputo, the capital of the southeast African nation, the Ministry of Mineral Resources and Energy said in a statement Saturday.
Exxon's project in the northern Cabo Delgado province will cost between $27 billion and $33 billion, according to a report that Johannesburg-based Standard Bank Group Ltd. published in March. The 15.2-million ton per year gas liquefaction and export project is even bigger than the one that Total is building nearby, and both will transform Mozambique's $15 billion economy.
"We look forward to progressing the Rovuma LNG project and working with the government to maximize the long-term benefits that this project will bring," a spokesman for Exxon said in an emailed response to questions.
The investment decision could boost President Filipe Nyusi's chances in general elections scheduled a week later. A promise to develop the country's natural gas industry has formed a big part of Nyusi's campaign.
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Earlier:
2019, August, 23, 10:40:00
ROSNEFT IN MOZAMBIQUE
Rosneft Oil Company and the National Petroleum Institute (Instituto Nacional de Petróleo, INP) have signed a Cooperation Agreement. The document was signed by Chief Executive Officer of Rosneft Oil Company Igor Sechin and Chairman of INP Carlos Zacarias. In addition, Rosneft has signed a Memorandum on Expansion of cooperation in Mozambique with the National Hydrocarbon Company (Empresa Nacional de Hidrocarbonetos, ENH).
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2019, June, 19, 11:05:00
ANADARKO, MOZAMBIQUE LNG
Anadarko Petroleum Corporation (NYSE: APC) and the co-venturers in Mozambique's Offshore Area 1, announced a Final Investment Decision (FID) on the Anadarko-led Area 1 Mozambique LNG project. This official declaration of FID confirms the Area 1 Plan of Development is now effective with notice provided to the Government of Mozambique that all conditions precedent have been fulfilled, and the project can now advance to the construction phase.
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2019, May, 6, 12:00:00
MOZAMBIQUE'S LNG PROJECTS
With estimated gas reserves of over 5,000 Bcm, Mozambique has attracted three LNG projects with total capacity of more than 30 million mt/year and $50 billion capex development, with commissioning expected between 2022 and 2025.
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