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28/08/2014

Mozambique in US$30 billion LNG project.

Over US$30 billion is to be committed in Mozambique to produce 20 million tonnes annually of LNG, with the ports of Pemba and Palma to be redeveloped in the massive programme of redevelopment.

The national oil company has verified that the project will be operational by 2018, according to Reuters.

Mozambique’s plans on converting LNG through its large gas deposits can provide profits that will see the country rise from poverty.

Nelson Ocuane, president of the state oil company ENH said: "In an initial phase, liquefaction units with a total capacity for 20 million tonnes a year of LNG will be built and operated. The investment to be made tops US$30 billion."
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