JAPAN’S MITSUI EXPECTS MOZAMBICAN LNG PROJECT TO SEE PROGRESS BY MARCH 2017

The Japanese company Mitsui says it expects “certain progress” by March next year in the project to build a plant producing Liquefied Natural Gas (LNG) in Palma district in the northern Mozambican province of Cabo Delgado.

Mitsui has a 20 per cent stake in the Offshore Area One consortium, where the operator is the American company, Anadarko Petroleum. The consortium is still to make its final investment decision (FID) on how it will commercialise the 75 trillion cubic feet of recoverable natural gas already found in the concession.

Anadarko has a 26.5 per cent holding in Area One. In addition to Mitsui, its partners in the consortium are ONGC Videsh and BRPL Ventures of India (20 per cent and 10 per cent, respectively), the Thai Group PTT (8.5 per cent) and Mozambique’s own National Hydrocarbons Company, ENH (15 per cent).

Initially, Anadarko planned to produce 12 million tonnes of LNG a year, using two LNG trains. Later it said it hopes to raise production to 20 million tonnes a year.

Source: NAM NEWS NETWORK.