Economy

Mozambique hopes to export gas by 2018

Our Bureau New Delhi | Updated on November 17, 2017 Published on October 16, 2012

Mozambique, which has been firmly put on the global hydrocarbon map due to huge discoveries in its Rovuma offshore basin, is looking to export gas within the next six years.

Speaking on the sidelines of Petrotech 2012, Abdul Razak Noormahomed, Vice-Minister of Mineral Resources, Mozambique, confirmed that the country is looking to set up the liquefied natural gas (LNG) plant by 2018.

The country plans to set up two LNG trains which would entail an investment in the range of $18-$20 billion.

The Vice-Minister mentioned that Mozambique was seeing interest for participation in its hydrocarbon blocks from global players.

Rovuma basin block

Two Indian companies — BPCL and Videocon — through a joint venture have 10 per cent stake each in the Rovuma basin block.

On Monday, R.K. Singh, Chairman and Managing Director, BPCL, had reiterated that his company did not intend to sell its stake in the block.

There have been rumours that Videocon intends to sell its stake.

Earlier this year, Cove Energy, one of the partners in the Rovuma block had sold its 8.5 per cent stake in the venture for $1.9 billion.

>anand.k@thehindu.co.in

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Published on October 16, 2012
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