- Mozambique Oil & Gas: Anadarko working on SPAs for Rovuma Area 1 block
- Africa Oil & Gas: Global Petroleum increases Namibian footprint
- Africa Oil & Gas: Saipem found guilty, Eni acquitted in Algeria graft case
- Africa Oil & Gas: BP Oil-Buying Spree Jolts Sleepy West African Crude Market
- Mozambique Energy: Cahora Bassa hydroelectric plant to invest €500 million in 10 years
Mozambique Electricity (EdM) has renewed its contract to sell energy to Lesotho in a business that foresees Mozambique receiving about US$7 million (EUR 5.5 million) this year, an official source said.
EDM and the Lesotho electricity company (LEC) signed a memorandum of understanding on Thursday to formalize an agreement similar to that already in place, a company’s source told Lusa, adding that a long-term agreement is also under consideration.
EDM has been supplying energy to Lesotho since 2008, a business that also signifies “the development of relations between two countries,” EDM’s managing director Mateus Magala said at the signing.
“We need to invest more in infrastructure, and this can only be done if we sell energy,” he explained.
Tankiso Motsoika, director general of LEC, compares energy to “the blood needed to restore economic growth – and we are very happy to receive this Mozambican blood”.
Mozambique sells electricity to several neighbouring countries, including South Africa, Zimbabwe and Zambia. Source: Lusa