Mozambican PM calls on new ENH chairman to meet LNG project deadlines

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Mozambican PM calls on new ENH chairman to meet LNG project deadlines

2:37 CAT | 31 Jan 2020

FILE: For illustration purposes only. [Euronnews]

The Prime Minister of Mozambique, Carlos Agostinho do Rosário, today called for the deadlines for the development of natural gas projects in the country to be met, highlighting the sector as essential for the social and economic prosperity of Mozambicans.

Carlos Agostinho do Rosário was speaking at the swearing-in of new chairman of the Board of Directors of the National Hydrocarbon Company (ENH), Estevão Pale.

“The chairman of ENH, who we have just sworn into office, must guarantee the implementation of natural gas exploitation projects within the schedules approved in the development plans,” Carlos Agostinho do Rosário said.

The production and export of natural gas, he continued, would ensure the supply of more electricity and the production of fertilisers and fuels, and generate tax revenue for the Mozambique’s social and economic development.

The prime minister urged the new ENH chairman to mobilise the financing necessary for the injection of capital in the consortia in which the company participates.

“The chairman is also recommended to prioritise the financial closing of ENH’s participation in different natural gas projects, thereby ensuring the maximisation of gains expected by the country,” Carlos Agostinho do Rosário said.

At the end of the inauguration ceremony, Estevão Pale told journalists that his priority would be the institutional training of ENH technical, financial and material personnel, so as to strengthen its capacity to participate in the international consortia exploring natural resources in Mozambique.

“Building technical, financial and material capacity, so that we can rise to the challenges of the sector, is paramount”, Pale said.

The exploitation of natural gas off the north coast of Mozambique starts in 2022, and is expected to grow over the following years, driving the country into the top 10 world exporters, and significantly boosting the country’s economic growth rate.

The combined investment of all projects foreseen for Cabo Delgado forms the largest private investment underway in Africa, and is expected to amount to around US$45 billion.

Source: Lusa