Now Reading
Mozambique: First Tax Revenue from Coral South Gas Estimated at US$35 Million this Year

Mozambique: First Tax Revenue from Coral South Gas Estimated at US$35 Million this Year

Over the next 25 years, Mozambique expects to collect around US$19 billion in tax revenue from the commercialisation of liquefied natural gas by the Coral Sul FLNG Platform.

According to the Director of Projects and Development of the National Petroleum Institute, the Rovuma Basin Area 4 project will produce 150 million cubic feet of gas in the current year, earning the state coffers an estimated US$35 million in taxes.

Advertisement

This will be the first state revenue from the commercialisation of Rovuma gas.

Annual production could progressively grow to up to 525 million cubic feet, the maximum capacity of the floating platform. Tax revenue will also grow, to an estimated average of US$740 million a year over 25 years.

See Also

The project will create 370 direct jobs at the beginning of production, of which 195 will be occupied by Mozambicans, and will employ 858 persons throughout its lifetime.

close

Get our daily newsletter directly in your email

© 2021 360 Mozambique by Media 4 Development. All Rights Reserved.

Scroll To Top