Mozambique has moved closer to becoming a player on the fast-growing global market for liquefied natural gas, eight years after the first major deep-water discovery there. The development of hydrocarbon resources is crucial for the country, which has struggled in 2018 to service its debt. While the liquefied natural gas projects will require tens of billions of dollars in funding and take years to develop, they offer a way to stimulate growth in one of the world’s poorest countries. Exxon Mobil and Eni said they had started marketing gas that would be produced from the planned Rovuma liquefied natural gas project. The companies expect to make a final decision on whether to proceed with the onshore plant in 2019. Anadarko Petroleum, which said in April it had secured enough customers for its own project, planned to make its investment decision in the first half of 2019, executive vice-president Mitch Ingram said at the World Gas Conference in Washington on Wednesday. Mozambique expec...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.