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Mozambique Oil & Gas: “Mozambique LNG FID in March 2016” – Mitsui says

Millenium Deepwater - Transocean
Millenium Deepwater – Transocean

Mitsui’s chief financial officer, Keigo Matsubara said on Friday that a final investment decision on the Mozambique LNG project will be made by the end of March 2016. Reuters news agency quoted Matsubara as saying that the negotiations with the local governments are time-consuming. Initially, FID was expected before the end of 2015.

Mitsui’s expectation goes in line with recent comments by John Peffer, the country manager at Anadarko, the operator of the project, that the partners are close to submitting a development plan.

Peffer did, however, say that the decision depends on the government’s approval of the development plan which in some cases can take up to nine months.

Anadarko informed in August that it has lined up 90% of supply deals that are also awaiting government’s approval.

Remember that the Mozambique LNG partners are Empresa Nacional de Hidrocarbonetos, Anadarko, Mitsui & Co, Bharat PetroResources, ONGC Videsh, Oil India, and PTT Exploration & Production.

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