Now Reading
President: “Natural Gas Revenues Could Reach $75M”

President: “Natural Gas Revenues Could Reach $75M”

The Mozambican President, Filipe Nyusi, said this Wednesday, 20 December, during the annual report on the General State of the Nation, that revenues from natural gas extracted by the Floating Platform (FLNG) of the Coral Sul project, installed in the Rovuma basin, Cabo Delgado province, northern Mozambique, could reach 75 million dollars in favour of the state.

According to the head of state, quoted by the Mozambican Information Agency (AIM), by the end of this year the platform will have completed 41 shipments. “Our gas is already being consumed in Europe and Asia, translating into gains for our country. As of yesterday (19 December) 39 shipments had been made, which have already reached Europe and Asia.”

For the Mozambican President, the shipments are the result of the government’s efforts to improve the lives of Mozambicans and, above all, the communities in Cabo Delgado, particularly in the districts of Palma and Mocímboa da Praia.

The first LNG carrier departed FLNG for the first time in November 2022 under a 20-year sales and purchase contract signed with British oil company BP Poisedon, which covers the total volumes of LNG produced by Coral South FLNG.

With a gas liquefaction capacity of 3.4 million tonnes per annum (MTPA), the project will put 4.7 trillion cubic feet (tcf) of natural gas from the vast Coral reservoir into production during its lifetime.

The Mozambican President reiterated that the Mozambique LNG project, set up in the district of Mocímboa da Praia and led by French oil company TotalEnergies, could return next year, thanks to the government’s efforts, which have led to the improvement and consolidation of security in Cabo Delgado,

The project was suspended due to terrorist attacks, which have tended to reduce in recent days, thanks to the intervention of the Mozambican Defence and Security Forces, supported by their Rwandan counterpart and the Southern African Development Community Military Mission (SAMIM).

Since October 2017, Cabo Delgado has been the target of terrorist attacks that have led to the deaths of more than 3,000 citizens and the flight of more than 900,000 people who have sought shelter in safer places, triggering a humanitarian crisis.

SUBSCRIBE TO GET OUR NEWSLETTERS:

See Also

SUBSCRIBE TO GET OUR NEWSLETTERS:

Scroll To Top

We have detected that you are using AdBlock Plus or other adblocking software which is causing you to not be able to view 360 Mozambique in its entirety.

Please add www.360mozambique.com to your adblocker’s whitelist or disable it by refreshing afterwards so you can view the site.