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16/03/2021

The Mozambican cabinet on Tuesday ratified a series of documents that formalise changes to the Area 1 project for natural gas exploration in the Rovuma basin from the entry of oil company Total, signed in September 2019. The documents include the complementary agreement regarding Area 1, the addendum to the project’s financing agreement, and the development plan’s addendum.

They are the base documents for the project, which maintains the key characteristics: 18 subsea wells, an onshore deployment area of 6,800 hectares and two gas liquefaction plants with a nominal capacity of 13.12 million tonnes per year (mtpa).

The Mozambican cabinet on Tuesday ratified a series of documents that formalise changes to the Area 1 project for natural gas exploration in the Rovuma basin from the entry of oil company Total, signed in September 2019. The approval will adjust aspects of development, ownership, construction, fi

11/03/2021

The composition of the Agency for the Integrated Development of the North (ADIN), which is expected to address the socio-economic retardation of Mozambique's northern provinces, one of the alleged reasons for the insurgency in Cabo Delgado, began to be revealed in Pemba on Monday. A multidiscipli

05/03/2021

US oil company Exxon has postponed for the third consecutive year the Final Investment Decision on the natural gas exploration project in Mozambique, putting the $30 billion investment in doubt.

the company’s Senior Vice President Neil Chapman, Neil Chapman, during a conversation with analysts, there is no forecast on when the investment decision will be made on the natural gas plant in the Rovuma basin, as the oil company needs to secure power supplies from the neighbouring plant, operated by France’s Total.

Exxon also needs to assess the general market conditions, the official said, without explaining what he was referring to, specifically. Still, the lack of an indication about the deadline for the decision may indicate that the project is at risk of leaving the US company’s list of priority

US oil company Exxon has postponed for the third consecutive year the Final Investment Decision on the natural gas exploration project in Mozambique, putting the $30 billion investment in doubt. According to Bloomberg news agency, which quotes the company's Senior Vice President Neil Chapman, Nei

04/03/2021

Indonesia national oil company (NOC) Pertamina is reviewing its liquefied natural gas (LNG) purchase contract with the Total-led Mozambique LNG

01/03/2021

The metical continues to slide towards its worst level ever, achieved at the height of the hidden debt crisis in 2016, when it traded at 78.5 meticais per dollar.

Analysts at NKC African Economics estimate that Mozambique's national currency unit will continue to depreciate this year, hitting 77.7 meticais per dollar against last year's 69.5. "We anticipate that the average exchange rate this year will depreciate to 77.7 meticais per dollar, which compares

01/03/2021

Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook.

01/03/2021

Italian engineering giant Saipem hopes to play a long-term role in the development of sub-Saharan African LNG infrastructure, its chief operating officer for onshore, Maurizio Coratella, said in an interview.At Mozambique LNG, work remains on track despite the growing Islamist insurgency.

“I don’t see this as disruption that could potentially jeopardize the schedule,” Coratella said. “We have contracted almost everything and we have transferred off site some of the construction that we would have done on site.”

Nonetheless, Saipem remains committed to helping develop a local industry in Mozambique around the project.

“We don’t want Mozambique to lose local content. We look at Mozambique like Nigeria. We want to develop infrastructure, the participation of local employees, knowledge transfer also through a dedicated training center, and the building of competence there,” Maurizio Coratella said.

Contracted for LNG trains in Nigeria, Mozambique Sees enlarged role in energy transition: Coratella Can facilitate CCS activity across value chain Italian engineering giant Saipem hopes to play a long-term role in the development of sub-Saharan African LNG infrastructure, its chief

25/02/2021

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16/02/2021

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11/02/2021

Patrick Pouyanné will propose at the general meeting of shareholders in May that the oil group be renamed TotalEnergies, to symbolise openness to new energy sources, including renewables, as part of its strategy of seeking zero polluting emissions.

Throughout this decade, Total will focus more on natural gas and renewable energies, while oil will constitute, in 2030, only 30% of its activity, compared to 55% today.

Oil company Total on Wednesday said that the natural gas project in Mozambique remains on schedule and that construction work should restart this quarter after violence in the region suspended work. "It is not because we have stopped for two or three months that we cannot reach the 2024 target,"