Mining & Energy
Sasol set to focus on Mozambique operations; could sell off nearly R14bn in assets
Omar Mithá says the country is close to entering the world of gas producers
The Rovuma gas project, so much expected to help the economy recover, will really come into being this quarter. The three Area 4 project partners have approved their investment plans, with one remaining company expected to announce approval soon.
After that, the construction of the gas platform can start. But first, Empresa Nacional de Hidrocarbonetos (ENH) will need financing for its share of investment in the up to US$10 billion project – which for Chairman Omar Mithá will not be difficult, since there are already guarantees that all the gas produced for the next 20 years will be bought [ by BP].
ENH holds 10 percent of Rovuma Basin Area 4 [Coral Field] in a joint venture with Portugal’s Galp, South Korea’s Kogas and Italy’s ENI.
For more on this subject, you might want to read http://clubofmozambique.com/news/mozambiques-enh-approves-us800-million-investment-plan-coral-south-lng-project/ and http://clubofmozambique.com/news/breaking-mozambique-eni-sign-20-year-lng-sales-agreement-bp/Source: O País
New SA and Mozambique gas pipelines to meet demand