The Japanese Mitsui & Co announced it does not expect a final investment decision (FID) on the Anadarko-led LNG in northern Mozambique before Q2 2018. The company hopes to close the negotiations with the government by December 2017.
The Mozambique LNG project includes a LNG facility on the Afungi peninsula, located close to the Offshore Area 1 of the deepwater Rovuma basin. (Orca, Prosperidade, Golfinho/atum and Tubarao discoveries). The Offshore Area 1 has estimated reserves reaching 75 Tcf of recoverable natural gas reserves (2.12 Tcm), equivalent to around 12 Gboe.
The project will encompass a 12 Mt two-train terminal and the operation start is expected for 2022-2023. As of today, about 8 Mt of non-binding long-term commitments have been secured but 80% of the total 12 Mt capacity have to be secured in order to get the necessary funding for the Final Investment decision (FID).
The Mozambique LNG project is led by Anadarko (26.5%), Mitsui & Co (20%), ONGC (16%), Mozambique's oil company ENH (15%), Bharat PetroResources (10%), PTTEP (8.5%) and Oil India Limited (4%).
Interested in LNG Databases?
World LNG Database offers a complete set of data on LNG markets. The service provides detailed information on existing and planned liquefaction and regasification plants. It also includes LNG shipping around the world, LNG contracts, time series on regasification and liquefaction capacities, LNG flows and LNG prices for all players in the market.