The President of Mozambique, Filipe Nyusi has laid the foundation stone of the Mozambique Liquefied Natural Gas, LNG project, a consortium led by US multinational, Anadarko in the district of Palma, Cabo Delgado province, in northern Mozambique.
Club of Mozambique reported that the project is located in the area where Anadarko and its partners discovered approximately 75 trillion cubic feet (tcf) of recoverable natural gas in Offshore Area 1, in the Rovuma Basin.
According to Anadarko, projections indicate that natural gas exports should start in late 2024 or early 2025. Besides, the investment will facilitate the development of the petrochemical industry in the country.
Also, the project development plan includes two on-shore liquefaction lines with an annual production capacity of 12 million tonnes of Liquefied Natural Gas (LNG) and outlines the development of a domestic gas supply line.
Meanwhile, President Nyusi is also expected to inaugurate the Afungi resettlement village, as well as a section of road that will connect the R762 Mocímboa da Praia and Palma National Road to the Project’s Industrial Zone.
Recall that the Mozambican government and Area 1 partners, led by Anadarko, signed the final investment decision of the Rovuma Basin Liquefied Natural Gas project in Maputo.
This project involves an investment of US$25 billion to be funded by US$14 billion from bank funds and US$11 billion from the shareholders of the concession.
Anadarko Mozambique Área 1 Lda., a wholly-owned subsidiary of Anadarko Petroleum Corporation, is the Area 1 Offshore operator with a 26.5% stake. The joint venture includes ENH Rovuma Área Ume, SA (15%), Mitsui E&P Mozambique Area1 Ltd. (20%), ONGC Videsh Ltd. (10%), Beas Rovuma Energy Mozambique Limited (10%) , BPRL Ventures Mozambique BV (10%t) and PTTEP Mozambique Area 1 Limited (8.5%).