Mozambique’s Mineral Resources and Energy Minister Max Tonela has said a consortium led by oil giants ENI and ExxonMobil will begin the extraction and liquefication of natural gas in the Rovuma basin in the last quarter of 2022.Tonela is quoted in the local media on Thursday as saying that construction of the anchoring system for the floating natural gas liquefaction platform commenced in March in the coral south field of Mozambican exploration Area 4.
“The completion of the (platform’s) construction is scheduled for late 2021 and it is expected to be in Mozambican waters by the end of the first quarter of 2022, ready to extract the gas, turn it into a liquid state, and export it on freighters to the whole world,” Tonela is quoted as saying.
He added: “The start of natural gas production is expected to occur in the last quarter of 2022.”
According to the official, the consortium is expected to invest US$8 billion and should generate direct profits of around US$47.7 billion in the 25 years of project life, with the Mozambican government due to earn US$24.5 billion resulting from tax on oil production, corporate income tax and production sharing.
The minister also revealed the status of another project to extract, liquefy and export natural gas that is about to start in the country, belonging to a consortium led by the American company Anadarko.
Tonela said the construction of the offshore liquefaction plant on the Afungi Peninsula is expected to begin at the end of next year.
The project also has a projected lifespan of 25 years and is expected to be completed at a cost of about US$30 billion and generate revenue of about US$53 billion for the government, the minister said.