Maputo, June 20, 2019. Anadarko’s Vice President and Mozambique Country Manager said at the US-Africa Business Summit in Maputo that the Mozambique LNG Project is ideally located to meet its growing demand worldwide, particularly in the European and Asian markets.
According to Steve Wilson “The strong LNG supply growth from 2016 to 2020 will slow dramatically from early next decade, as few FIDs were taken from mid-2015 through 2018 due to weak commodity prices & oversupply. Based on the latest demand forecasts the market will tighten due to the lack of supply growth from 2021 onwards. The current supply-demand imbalance should then work its way through the system. More LNG FIDs will then be needed to meet demand by 2024 when our project comes online. We will help supply growing global demand from mid-next decade and beyond”.
Wilson also stated that the Mozambique LNG Project, which announced its Final Investment Decision this week, will be a transformational opportunity for Mozambique and for all Mozambicans. “The project represents $20 Billion of project investment, of which $2.5 billion will be with Mozambican Owned or Registered Companies. It is estimated that it will create 45,000 direct and indirect jobs in country, including 5,000 Construction-Phase Jobs for Mozambicans and 1,500 Long-Term Operations Jobs for Mozambicans”, he said.
The Mozambique Country Manager also pointed out that the Area 1 Mozambique LNG project has been designated as “First Mover” by the Government of Mozambique, which means that Area 1 will be responsible for constructing the support facilities to be shared between Area 1 and Area 4 projects, including the Materials Offloading Facility and the LNG Marine Terminal.
The Mozambique LNG project will be Mozambique’s first onshore LNG development, consisting of two LNG trains of 12.88 MTPA nameplate capacity. Gas supply will come from the Golfinho/Atum fields, located entirely within Offshore Area 1. This foundational project further paves the way for future expansion trains anticipated to create up to 50 MTPA capacity. The Project will also supply gas for domestic use in Mozambique, with initial volumes of approximately 100 million cubic feet of natural gas per day (MMCFD), and a further 300 MMSCFD in a later second phase when additional reserves are certified
Anadarko Moçambique Área 1, Lda, a wholly owned subsidiary of Anadarko Petroleum Corporation, operates Offshore Area 1 with a 26.5-percent working interest. Co-venturers include ENH Rovuma Área Um, S.A. (15 percent), Mitsui E&P Mozambique Area1 Ltd. (20percent), ONGC Videsh Ltd. (10 percent), Beas Rovuma Energy Mozambique Limited (10percent), BPRL Ventures Mozambique B.V. (10 percent), and PTTEP Mozambique Area 1 Limited (8.5 percent).