Mozambique sees $30B investment for start-up of 2018 LNG exports

Mozambique sees $30B investment for start-up of 2018 LNG exports • 3:29 PM

• Mozambique will invest more than $30B to begin building capacity in its natural gas sector to produce 20M metric tons/year of liquefied natural gas, with the first exports due to start in 2018, according to the head of the national oil company.
• The investments will be made to develop the northern ports of Pemba and Palma, where a giant logistics base and LNG production plants are planned that will use gas produced from offshore fields in the Rovuma Basin being developed by Anadarko Petroleum (NYSE:APC) and Eni (NYSE:E).
• Commitments from APC and Eni already run into several billions of dollars, but the national oil company estimate is the first to put an overall price tag on the first phase of Mozambique's LNG ambitions.

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