- Global Markets: LNG Buyers in Asia Look to Resell Supply
- Global Oil & Gas: EU Rules on Methane Curbs May Boost LNG Industry - Exxon
- Global Oil & Gas: Venture Global Accused of Reneging on LNG Contracts for Europe
- Global Oil & Gas: Oil Unchanged as Market Struggles for Direction
- Energy Transition: Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
Gigawatt Mozambique, which manages Ressano Garcia’s natural gas-fired power plant, plans to expand electricity production from the current 120 megawatts to 350 megawatts, a project that will begin in 2018, the company’s operations director told daily newspaper Noticias.
Nassau Meguigy also said that next year shareholders will invest about US$120 million to add 60 megawatts to production and added that the necessary financing – about US$750 million – to reach the target of 350 megawatts is already being negotiated with some financial institutions.
The gas used in this venture located near the border with South Africa is provided by the Matola Gas Company by a branch of the Pande gas pipeline to South Africa, with 100 megawatts of the energy produced supplied to public company Electricidade de Moçambique (EdM).
The plant inaugurated in February 2016 cost US$200 million and has an installed capacity of 120 megawatts of energy, which represents 24% of Mozambique’s energy needs, excluding the Mozal aluminum foundry.
Gigawatt Mozambique is owned by South Africa’s Gigajoule Power with 42%, Eagle Holding, a Mozambican company registered in the Seychelles with 32% and Intelec, a power company operating in Mozambique, with 26%. (Source: Macauhub)