Mozambique: First tax revenue from Coral South gas estimated at US$35 million this year – Watch

Login

Register

http://www.clubofmozambique.com/

Mozambique: First tax revenue from Coral South gas estimated at US$35 million this year – Watch

1:57 CAT | 14 Jan 2022

Image: TVM

Over the next 25 years, Mozambique expects to collect around US$19 billion in tax revenue from the commercialisation of liquefied natural gas by the Coral Sul FLNG Platform.

According to the Director of Projects and Development of the National Petroleum Institute, the Rovuma Basin Area 4 project will produce 150 million cubic feet of gas in the current year, earning the state coffers an estimated US$35 million in taxes.

This will be the first state revenue from the commercialisation of Rovuma gas.

Annual production could progressively grow to up to 525 million cubic feet, the maximum capacity of the floating platform. Tax revenue will also grow, to an estimated average of US$740 million a year over 25 years.

The project will create 370 direct jobs at the beginning of production, of which 195 will be occupied by Mozambicans, and will employ 858 persons throughout its lifetime.