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Mozambican president announces initial investment decision for Rovuma LNG project
2:09 CAT | 08 Oct 2019
Photo: Twitter / @UKinMozambique
The Government of Mozambique and the Mozambique Rovuma Venture consortium on Tuesday in Maputo, announced the Initial Investment Decision for the Rovuma LNG project in the northern province of Cabo Delgado, according to a statement from the Ministry of Mineral Resources and Energy released on Sunday.
The project, which aims to extract, liquefy and sell natural gas from three reserves of the Mamba Complex, located in Block 4 of the Rovuma basin, is expected to announce the Final Investment Decision in 2020.
The official statement said that the announcement will be made by the President of the Republic, Filipe Nyusi.
This announcement comes three months after the approval of the Development Plan (POD) by the Government of Mozambique and at the same time the disbursement of initial investments to start activities that will end with the start of production of around 15.2 million tonnes of LNG per year from 2023 onwards.
The Rovuma LNG project also expects to supply about 17,000 tonnes of liquefied petroleum gas per year from Area 4 resources during the production phase, which currently represents 50% of imports of the product into Mozambique.
The Area 4 block is operated by the Mozambique Rovuma Venture consortium, which brings together Exxon Mobil and ENI, both with 25% and state-owned China National Oil and Gas Exploration and Development Company (CNODC), with the remaining 30% split equally between South Korean groups Kogas, Portugal’s Galp Energia and the Mozambican state-owned Empresa Nacional de Hidrocarbonetos (ENH).
Source: Macauhub
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