Mining & Energy
Moody's raises oil and gas sector outlook to positive from stable
Macauhub (File photo)
The Tokyo Gas Group plans to buy natural gas extracted in Mozambique under a programme to diversify its providers, said on Tuesday in Tokyo the group’s chief executive as he welcomed the President of Mozambique, who is on an official visit to Japan until Thursday.
“Currently we have 12 contracts with supply companies from different countries but we are interested in the project in Mozambique in order to diversify suppliers who annually sell us 14 million tonnes of natural gas,” added Kentaro Kimoto, quoted by Mozambican news agency AIM.
The Minister of Mineral Resources and Energy, Leticia Klemens, who is part of the delegation of President Filipe Nyusi, told officials from the Japanese group about natural gas extraction projects in the Rovuma basin.
Also on Tuesday, the presidential delegation met with officials from Mitsui & Co, one of the shareholders of the Area 1 block of the Rovuma Basin, whose operator is US group Anadarko Petroleum.
In addition to a 20% stake in the Area 1 block, the Mitsui & Co group is involved in negotiations with Brazilian group Vale to acquire stakes of 15% in the Moatize coal mine and 50% of the Nacala Logistics Corridor.
The latest figures for this deal are from September 2016 when the Vale group announced new terms for the agreement originally signed in 2014, under which it will receive US$768 million from the sale of those stakes to the Japanese group.Source: Macauhub
Racketeers doubling gasoline price in Chimoio, Mozambique
Over 70% of Africa's energy to come from renewables
Sasol announces Mozambique oil find - AIM report
Fuel prices rise in Mozambique as of tomorrow