Mining & Energy
U.S. EXIM Bank seeks vote on $5 billion loan to Mozambique LNG project
File photo: Macauhub
Mozambique Rovuma Venture presented the development plan for the first phase of the Rovuma LNG project, which will extract, liquefy and sell natural gas from the Mamba fields located in the Rovuma Area 4 block to the Mozambican government, Italian group ENI said in a statement issued in Milan on Monday.
The plan presents the detailed design and construction of two natural gas liquefaction units, each with a capacity to process 7.6 million tons of gas per year.
The statement said that US group ExxonMobil will be responsible for the construction and operation of natural gas liquefaction operations while the ENI group will be responsible for the construction and management of downstream operations.
“A final investment decision is expected in 2019, with commercial gas exploration expected to start in 2024, and the marketing activities are ongoing through negotiations leading to the signing of supply contracts,” the statement said.
The Rovuma LNG project is operated by Mozambique Rovuma Ventures, a partnership owned by ExxonMobil, ENI and the China National Petroleum Corporation groups, which jointly control 70% of the Area 4 block, the remaining 30% is split equally between Portuguese group Galp Energia, South Korea’s Kogas and Mozambican state-owned Empresa Nacional de Hidrocarbonetos.Source: Macauhub
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