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Africa Oil & Gas: Mitsui not selling Mozambique LNG stake

Mitsui & Co commited to Mozambique LNG
Mitsui & Co commited to Mozambique LNG

Mitsui & Co of Japan said selling a stake in a liquefied natural gas project off Mozambique is not in the company’s plans. 

Reuters quoted Mitsui’s CFO, Keigo Matsubara saying that the company plans to reach the financial investment decision by the end of 2015. Matsubara also added that the production is expected to start in 2019, stressing that the company has no intention of selling its stake at the moment.

More than 75 Tcf of recoverable natural gas resources have been discovered in Mozambique’s Offshore Area 1, which will be used to feed an initial two-train LNG development.

The Mozambique LNG partners are Empresa Nacional de Hidrocarbonetos, Anadarko, Mitsui & Co, Bharat PetroResources, ONGC Videsh, Oil India, and PTT Exploration & Production.(Source: LNG WorldNews)

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