ENI, Anadarko to build LNG terminals in Mozambique

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A logo of the ENI is seen at the petrol station in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi

MAPUTO  – Italy’s ENI and U.S. oil and gas firm Anadarko signed agreements with the Mozambique government on Thursday to build two liquefied natural gas terminals in the southern African country.

The terminals will be built in Cabo Delgado province, where Mozambique has made massive gas discoveries that could transform it from a poor African country into a major energy supplier to Asia.

The agreements were signed by Mozambique’s energy minister Letícia Klemens and the regional heads of ENI and Anadarko, a Texas-based oil producer. The two companies will separately build their own terminals, Klemens told a press conference. She declined to give the size of the investments.

ENI is spending $8 billion to develop a gas field off the coast of Mozambique while Anadarko is developing Mozambique’s first onshore LNG plant consisting of two initial LNG trains with a total capacity of 12 million tonnes per annum.

More than $30 billion is expected to be invested in Mozambique’s natural gas sector to build capacity to produce 20 million tonnes per year of LNG, with the first exports due to start in 2021.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA). He currently lives in Manhattan New York

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