Mozambique expects to raise US$30.9 billion from LNG exploitation in Golfinho-Atum

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Mozambique expects to raise US$30.9 billion from LNG exploitation in Golfinho-Atum

3:34 CAT | 19 Jul 2019

File photo: Anadarko

The Mozambican state will profit by US$30.9 billion from the total of US$60.8 billion which will be generated by natural gas projects in the Rovuma Basin Area 1’s Golfinho-Atum project over its 25-year lifetime.

The information was made public yesterday in Maputo by the Chairman of the Board of Directors of the National Petroleum Institute, Carlos Zacarias, who added that the estimates were made on the basis of international models and by banks financing the project.

“It may be appropriate here to detach [this figure] from the tax on oil production, from which the state will receive a total of US$4.4 billion. The state will also receive US$10.3 billion from its share of liquid petroleum and US$15.9 billion in corporate income tax. We also have a small amount of around US$300 million that will come from a fee and a bonus, a relatively modest amount when compared with the others” the INP chairman said.

The Rovuma Basin Area 1 LNG project is led by US oil major Anadarko.

Source: Rádio Moçambique