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.
Mozambique is likely to be producing 31 million tonnes per year from three projects, Coral Sul floating LNG (FLNG), Mozambique LNG and Rovuma LNG. Coral Sul is expected to start up in the third quarter of 2022, with 3.4mn tpy of production.
A Deloitte partner in Mozambique Mario Fernandes told participants that companies were considering a second phase of projects in the East African state, which might see another 30mn tpy of production approved. Final investment decisions (FIDs) may come on this next wave in 2024.
Given low prices, LNG project around the world are finding it hard to make progress, with the Netherlands’ TTF and Asia’s JKM having both fallen under $2 per million British thermal units.
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