Mozambique Logistics Industry: Looks to Sell Pemba Terminal Stake

Mozambique Map
Mozambique Map

In Mozambique the state-owned investment bank, Banco Nacional de Investimento, is looking for a buyer for a 10% stake in a logistics terminal for the gas industry at Pemba. The stake is being sold by ENH Logistics, a subsidiary of state-owned oil and gas company ENH, Muhamud Matsinhe, a spokesman for ENH, told Bloomberg.

There have been major natural gas discoveries made off the coast near Pemba, and the area will be the site of an onshore LNG terminal. ENH Logistics was set up to build the infrastructure needed to bring the gas ashore and it is looking to sell one-fifth of its 50% stake in the terminal. Construction of the terminal is expected to cost $150 million.

The stake is only available to Mozambican investors, in keeping with a government objective to keep as much ownership of the country’s natural resources wealth in local hands as possible.

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