SOURCE: oil priceLa
Houston oil and gas company Anadarko has proposed to the Mozambican government to establish a liquefied natural gas facility capable of producing one billion cubic feet of gas per day in northern Mozambique.
Anadarko's exploration concession blocks cover onshore and offshore areas in the Palma and Mocimboa da Praia districts of Cabo Delgado province, and exploratory drilling has discovered large natural gas deposits in four of Anadarko's seven exploratory wells, Informacao Agency. Anadarko has so far invested $750 million in Mozambique's Rovuma basin and projects investment costs will exceed $3 billion by the end of 2013. If Anadarko's plans for an LNG facility are approved, the final investment Anadarko's investment could reach $15 billion in 2018, which would be by far Mozambique's largest foreign investment. The president of Mozambique's National Petroleum Institute, Arsenio Mabote, advocates that some natural gas be conserved for use in Mozambique to produce fertilizers and methanol and also to generate electricity for the country's northern provinces.
Comments