The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, is supporting the advancement of Mozambique’s energy industry and economy by committing up to US$400 million in guarantees and direct lending to the Area 1 LNG Project. The total Project is estimated to cost about US$24 billion and is set to be the largest […]

Mozambique LNG is one of several projects being developed in the country’s northernmost province of Cabo Delgado after one of the biggest gas finds in a decade off its coast. Together, the projects are worth some $60 billion. The lucrative nature and the important of this project cannot be over emphasized owning to its prevailing […]

The Japan Bank for International Cooperation (JBIC) has signed on a loan agreement in project financing amounting up to USD3 billion with MOZ LNG1 FINANCING COMPANY LTD in Abu Dhabi, United Arab Emirates. The loan is extended under JBIC’s Growth Investment Facility. It is co-financed with the African Development Bank (AfDB), the Export-Import Bank of the […]

Total the French oil exploration and production giant has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique, according to South African lender FirstRand’s local unit, FNB Mozambique. But the oil giant is yet to officially comment on this. In a recent development, FNB Mozambique said the financing […]

Sasol an international integrated chemicals and energy company with presence in 31 countries has given up its exploration license in Blocks 16 & 19 offshore Mozambique. This was sequel to an evaluation of the exploration potential of the blocks and an assessment of the report of the pre-feasibility phase of the Environmental Impact Assessment (EIA). […]

Mozambique’s national petroleum institute INP said that the country’s natural gas and liquefaction projects remain in line with the schedule agreed between the government and investing companies. INP’s chairman Carlos Zacarias recently in a press conference said that despite the suspension of activities in Afungi due to the Covi-19 pandemic, implementation activities for the Eni’s […]

Mozambique’s National Petroleum Institute is expecting Exxon Mobil’s final investment decision[ FID)  on a $30 billion prolific Rovuma gas project north of the country in 2021, the country recently proclaimed, but this speculation was allegedly dismissed by the company. “The final investment decision of the Rovuma LNG project has been postponed to, in principle, next […]

Air Products has signed up to Asuppl y two LNG heat exchangers to the Total-led Mozambique LNG venture. The company said its facility in Port Manatee, Florida, would manufacture the equipment, which would then be shipped to the Afungi Peninsula, in Mozambique’s northern Cabo Delgado Province. Air Products has signed the deal with the contractor, […]

Eni and the Area 4 partners tremendous progress in Cora Sul FLNG has being beoughr to fore, This was announced in Geoje, South Korea at the launch of the hull of the Coral Sul Floating Liquefied Natural Gas (FLNG) treatment and liquefaction facility. The FLNG is part of the Coral South project that will put […]

Dutch offshore vessel owner Smit Lamnalco has won a $200 million, 10 years contract to provide services for Coral South FLNG offshore Mozambique. Smit Lamnalco, a 50% affiliate of Boskalis, will provide integrated marine services to what will be Mozambique’s FLNG unit, operated by Eni. “This marks the first terminal services contract awardfor the Mozambique […]