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Anadarko-led gas consortium to announce biggest-ever investment in Mozambique
3:12 CAT | 18 Jun 2019
File photo: Lusa
Mozambique’s natural gas exploration Consortium, led by US firm Anadarko, is set on Tuesday to formally announce one of the biggest investments even in the country, assessed at $25 billion (€22.2 billion).
The amount for the development of Area 1 in the Rovuma Basin in the northern Cabo Delgado province represents twice the country’s GDP or what it produces every year.
The final investment decision ceremony is scheduled for this afternoon in a tent specially erected at the Eduardo Mondlane University in the capital, Maputo.
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The investment is to be used to drill into the sea floor and extract the gas through 40 kilometres of underwater pipes to a new plant when it will be transformed into a liquid on the Afungi peninsula.
A quay is to be built beside the gas plant for gas carriers ships which will take the product to customers in Asian markets such as China, Japan, India, Thailand and Indonesia), but also to Europe for Eletricidade de França, Shell or UK company Centrica.
A lesser amount will stay in Mozambique to produce electricity.
Source: Lusa
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