The South Korean multinational Daewoo Engineering & Construction (E&C) has expressed interest in expanding its investments in the liquefied natural gas (LNG) projects located in the Rovuma Basin, in Mozambique’s northern province of Cabo Delgado.
On Wednesday, June 18, during a meeting in Maputo with the Head of State, Daniel Chapo, the company’s president, Won-Ju Jung, stated that Daewoo aims to participate in the construction of projects in Area 4, due to its energy and economic potential for development.
“We are already present in Area 1, where we collaborated on the construction of the project, and now we want to take part in Area 4 as well. These are high-value projects that can help Mozambique grow and become known worldwide,” he said. Quoted by the Mozambican News Agency (AIM), the executive added that Daewoo has plans to develop gas-based industries in the country, including fertilizer production and modernization of the electricity sector.
Mozambique has three approved development projects for the exploitation of natural gas reserves in the Rovuma Basin—ranked among the largest in the world—all located off the coast of Cabo Delgado. Two of the projects are large-scale and involve transporting gas from deep offshore to onshore processing plants, where it is cooled and exported by sea in liquid form.
One is led by TotalEnergies (Area 1 consortium), whose construction was suspended indefinitely following an armed attack in Palma in March 2021. At the time, the French energy company announced that operations would only resume once the region was deemed secure. The second major project, led by ExxonMobil and Eni (Area 4 consortium), has not yet been officially launched.
The third, a smaller project, also belongs to the Area 4 consortium and consists of a floating platform for capturing and processing gas offshore for direct export. It began operations in November 2022.
Source: DE
