Mozambique Oil & Gas: Rovuma Area 1 FID expected soon

The final investment decision for the natural gas exploration project for the Rovuma Area 1 concession in Mozambique is expected to be signed in the near future, the director for Mozambique of US group Anadarko Petroleum said in Maputo.

Speaking in Maputo, João Bretz pointed out that some critical aspects for the final investment decision are steadily being overcome, according to Mozambican daily newspaper Notícias.

The recent signing of the contracts on maritime concessions, definition of a legal framework, advances in the process of re-housing the population in Palma and the advanced negotiations with potential purchasers of liquefied natural gas (LNG) were some of the critical aspects that have made significant progress, he said.

Mozambique’s Gas Summit and Exhibition is an event organised by the CWC group in partnership with Mozambican state oil and gas company ENHH, bringing together more than 500 people from 30 countries.

ENH president Omar Mithá said on Monday that Mozambique must find an effective sales strategy for its natural gas given expected overproduction in the world, noting that the United States has gone from being an importing country to a gas exporter and that Qatar lifted the moratorium that had been imposed on the production of more gas. (source: Macauhub)