{"id":60086,"date":"2024-05-02T21:31:06","date_gmt":"2024-05-02T21:31:06","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president"},"modified":"2024-05-02T22:48:58","modified_gmt":"2024-05-02T22:48:58","slug":"funding-no-reason-not-to-restart-lng-projects-president","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president","title":{"rendered":"Funding no reason not to restart LNG projects \u2013 President"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The president of Mozambique said on Thursday that the resumption of natural gas megaprojects is \u2018fundamental\u2019 given the \u2018promising stability\u2019 in Cabo Delgado, the scene of terrorist attacks, saying that financial decisions cannot be an argument at this stage.<\/p>\n

\u2018This is fundamental because financial decisions cannot now be a problem associated with the terrorist situation. This project already existed, it\u2019s old. That means there was clarity in its execution. It can\u2019t run aground for this reason, let\u2019s find others,\u2019 Filipe Nyusi said at the opening this morning in Maputo of the 10th edition of the Mozambique Mining and Energy Conference (MMEC).<\/p>\n

Specifically, he called on the concessionaires of Area 1, led by TotalEnergies, to \u2018accelerate the development of the resumption of onshore projects\u2019 in view of the \u2018gradual promising stability\u2019 on the Afungi peninsula, in the district of Palma, Cabo Delgado, and that in Area 4, onshore, led by ExxonMobil, \u2018the process leading to the Final Investment Decision should be accelerated, with the necessary adjustments to the Development Plan approved in 2018\u2019.<\/p>\n

Speaking at the conference, Nyusi said that the \u2018delay\u2019 in realising this type of project \u2018causes problems\u2019 because the \u2018expectations of the countries are enormous\u2019 and \u2018people think that part of their problem may have been solved\u2019.<\/p>\n

\u2018Great efforts have been made by everyone in Mozambique, by the Defence and Security Forces, by our friends and sister countries to stabilise [Cabo Delgado], putting the country in a better or identical situation to the countries where the [terrorist] conflicts occur. So the stability argument often doesn\u2019t stick. And the delay in itself causes this impatience,\u2019 said Nyusi, insisting on the need to \u201cspeed up these projects\u201d.<\/p>\n

The French multinational TotalEnergies is building a plant near Palma to produce and export natural gas valued at $20 billion (around \u20ac18.6 billion ). However, the project has been suspended since 2021 due to the terrorist attacks.<\/p>\n

\u2018We have made progress with the suppliers and different contractors, including on the cost side. They have heard our message, they want to reactivate the project, and we are now in the process of reactivating the global financing, which should happen in the coming months,\u2019 said TotalEnergies CEO Patrick Pouyanne\u0301 on 7 February.<\/p>\n

On the same occasion, he added that the oil company hopes to restart construction work and onshore natural gas exploration by the end of the year, guaranteeing to monitor the situation on the ground constantly: \u2018What I don\u2019t want to happen is to decide to bring people back and then have to force them out again; that would be very complex.\u2019<\/p>\n

ExxonMobil said last July that investment in natural gas in Mozambique is on track for a Final Investment Decision in 2025, with production starting at the end of the decade.<\/p>\n

\u2018A lot still depends on the security situation, which has been very well managed,\u2019 said Peter Clarke, the company\u2019s vice president for oil and gas exploration, at a conference in Vancouver.<\/p>\n

Exxon\u2019s project in Cabo Delgado \u2014 a northern province affected by terrorist attacks for more than six years\u2014was expected to produce 15.2 million tonnes a year, but the company is currently forecasting annual production of 18 million tonnes.<\/p>\n

Mozambique has three development projects approved to exploit the natural gas reserves in the Rovuma basin, classified as one of the largest in the world, off the coast of Cabo Delgado.<\/p>\n

Two of these projects are larger and involve channelling the gas from the seabed to land, cooling it in a plant to export it by sea in a liquid state.<\/p>\n

One is led by TotalEnergies (Area 1 consortium), and work progressed until it was suspended indefinitely after an armed attack on Palma in March 2021. The French energy company declared that it would only resume work when the area was safe.<\/p>\n

The other is the still unannounced investment led by ExxonMobil and Eni (Area 4 consortium, onshore).<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The president of Mozambique said on Thursday that the resumption of natural gas megaprojects is \u2018fundamental\u2019 given the \u2018promising stability\u2019 in Cabo Delgado, the scene of terrorist attacks, saying that financial decisions cannot be an argument at this stage. \u2018This is fundamental because financial decisions cannot now be a problem associated with […]<\/p>\n","protected":false},"author":84,"featured_media":60085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12,244],"tags":[233,281,283],"class_list":["post-60086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nFunding no reason not to restart LNG projects \u2013 President - Mozambique<\/title>\n<meta name=\"description\" content=\"The president of Mozambique said on Thursday that the resumption of natural gas megaprojects is \u2018fundamental\u2019 given the ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Funding no reason not to restart LNG projects \u2013 President\" \/>\n<meta property=\"og:description\" content=\"The president of Mozambique said on Thursday that the resumption of natural gas megaprojects is \u2018fundamental\u2019 given the ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-02T21:31:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-02T22:48:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/05\/sm_1714673525.261503.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1120\" \/>\n\t<meta property=\"og:image:height\" content=\"744\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Funding no reason not to restart LNG projects \u2013 President\",\"datePublished\":\"2024-05-02T21:31:06+00:00\",\"dateModified\":\"2024-05-02T22:48:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president\"},\"wordCount\":659,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2024\/05\/sm_1714673525.261503.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/funding-no-reason-not-to-restart-lng-projects-president\",\"name\":\"Funding no reason not to restart LNG projects \u2013 President - 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