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Plans For New LNG Project In Mozambique Submitted
A major liquefied natural gas (LNG) development plan in Mozambique could go ahead after proposals were submitted last week, which could result in dealing with far greater volumes.
ExxonMobil, together with Eni and CNPC, has submitted its idea to build two LNG trains from the Mamba fields in block 4, as part of the Mozambique Rovuma Venture. It is thought they would each produce 7.6 million tons of LNG per year.
While ExxonMobil will take charge of the operation and construction of LNG-related parts of the Rovuma LNG project, Eni will lead the build and set-up of upstream facilities, .
Commenting on the proposal, Eni’s executive vice-president for the Mozambique Programme Stefano Maione said: “The Rovuma LNG Project is moving forward swiftly. The size of the project makes it not only an important investment in the country, but also supports economic growth and opens new opportunity for Mozambicans.”
The initiative will take place in the Rovuma Basin, in the northern part of the African country.
The Mozambique Rovuma Venture holds a 70 per cent stake in the Area 4 concession, while Galp, KOGAS and Empresa Nacional de Hidrocarbonetos (ENH) each have a ten per cent share.
A final decision on the LNG project will be made next year, with plans for the trains to be functional by 2024.
This comes after recently reported the largest annual volume increase in LNG trade last year, reaching 38.2 billion cubic feet per day.
In 2017, the industry grew by ten per cent, as a result of growing capacity in Australia and the USA.