East Africa is in a prime location to export gas globally but growth and progress has largely been slow, largely because of fluctuating liquified natural gas prices, political instability and terrorism.
A hoax statement claims Galp is abandoning its involvement in northern Mozambique in order to pursue a “100% renewable future”.
Foreign military support is growing in Mozambique’s northern Cabo Delgado Province following the attack on Palma but it is clear that the LNG plans have suffered a major setback.
Around $33 million of spending in Mozambique’s two LNG concessions is unrecoverable, the Instituto Nacional do Petróleo (INP) has said, following an audit.
Islamist insurgents, Mozambique government forces and a South African private military company are all involved in human rights abuses in Cabo Delgado, according to Amnesty International.
Eni intends to boost contracted LNG volumes to 14 million tonnes per year by 2024 and is in talks on entering Qatar Petroleum’s (QP) major expansion.
Speakers talking about Mozambique at the Energy Industries Council’s (EIC) virtual Energy Exports Conference (VEEC) were keen to stress local benefits.
The COVID-19 pandemic has triggered one of the most volatile periods on record for energy markets, not least within the LNG industry.
There are challenges ahead for Mozambique, even while it is poised for a period of dramatic growth as investment into its northern gas finds escalates.
The LNG industry in Mozambique will have a transformative impact on the country’s economy – and establish it as a regional gas hub, participants on an Africa Oil Week webinar have said.
Japan’s JGC remains positive about receiving the go ahead for work in Qatar, Iraq, Oman and Mozambique.
The impact of coronavirus has not been felt as strongly by the gas industry as oil, Rystad Energy’s CEO Jarand Rystad has said, although increasing LNG production seems set to keep prices under pressure this year.
The Islamic State (IS) has released video of a helicopter shot down in northern Mozambique, said to belong to anti-jihadist mercenary forces.
ExxonMobil’s decision to slash capital expenditure this year by 30% has pushed back a final investment decision (FID) on the Rovuma LNG project, in Mozambique.
A town in northern Mozambique near major LNG construction works has been seized by Islamist militants, according to local reports.
Galp will focus on major upstream projects, company executives said today, but these must be able to compete in a world where demand may be constrained.
Officials from Mozambique have showcased the level of investment in the prolific Rovuma basin in a bid to attract the expertise of North Sea companies to its supply chain.
The African Development Bank (AfDB) has approved a $400 million long-term senior loan to support the Total-led Mozambique LNG project.
The Rovuma LNG project has taken another step ahead but a final investment decision (FID) is now expected in early 2020.